ICICI Securities announced a dividend of Rs 5.70 per share on Tuesday for the financial year ending March 2019.
ICICI Securities announced a dividend of Rs 5.70 per share on Tuesday for the financial year ending March 2019. The decision would be subject to the approval of the shareholders of the company at the upcoming annual general meeting (AGM).
The investment services arm of the ICICI group reported a profit of Rs 1213.6 crore in Q4FY19 as against Rs 1,474.6 crore in the corresponding period of last year. The revenue from operations fell to Rs 4,077.3 crore as against Rs 5,079.7 crore in the same period of the previous year.
“Recommendation of final dividend of Rs. 5.70 (Rupees Five and Seventy Paise only) per equity share of face value of Rs. 5/- each to the Shareholders of the Company which shall be subject to their approval at the ensuing Annual General Meeting”, the company said in an exchange filing.
In the last quarter, ICICI Securities recorded 34.3 per cent decline in consolidated profit to Rs 101.1 crore. The total income of the company also fell to Rs 404.7 crore as against Rs 493.8 crore in the third quarter of the last fiscal.
Meanwhile, ICICI Bank is yet to report its results for the quarter ending December in fiscal year 2019. In the previous quarter, the Bank had posted lower-than-expected financial results. The private sector lender had reported nearly 3 per cent fall in profit at Rs 1,604.91 crore in the third quarter over Rs 1,650.24 crore in the corresponding quarter of the last year.
The asset quality of the private lender improved in the quarter as a percentage of gross non-performing assets (NPAs) came down at 7.75 per cent as against 8.54 per cent recorded on-quarter basis.