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ICICI Bank stock rallies 6.5% post Q4FY18 numbers

The bank’s Q4FY18 net profit was ahead of estimates, which has declined by 49.6% yoy to Rs1,020cr against Rs2,204cr.

Shares of ICICI Bank stock rallied 6.5% post Q4FY18 numbers. The stock is the top gainer in the Nifty50 index. The bank’s Q4FY18 net profit was ahead of estimates, which has declined by 49.6% yoy to Rs1,020cr against Rs2,204cr.

NII came ahead of estimates at Rs6,022cr as against Rs5,962.1cr, which is up by 1% yoy.

The overall NIM for the quarter came at 3.24% as against 3.14% qoq, (an improvement of 10bps). Its GNPA for Q4FY18 stood at 8.84% against 7.82% qoq, which has increased by 102bps. NNPA for the quarter came at 4.77% against 4.2% qoq, which has increased by 57bps.

The slippages during the quarter have spiked four fold to Rs15,737cr as against Rs4,380cr qoq. This includes Rs9,968cr of loans which were under RBI schemes and were classified as standard as on December 31, 2017.

The stock is currently trading at Rs309.65 up by Rs20.25 or 7% from its previous closing of Rs289.40 on the BSE. The scrip opened at Rs302.50 and has touched a high and low of Rs311.65 and Rs300 respectively.