Indian Bank fell 3.73% to Rs 90.30 at 14:35 IST on BSE after net profit fell 59.02% to Rs 84.49 crore on 2.34% increase in total income to Rs 4513.60 crore in Q4 March 2016 over Q4 March 2015.
The result was announced during trading hours today, 11 May 2016.Meanwhile, the BSE Sensex was down 186.78 points, or 0.72%, to 25,585.75.
On BSE, so far 65,000 shares were traded in the counter, compared with an average volume of 26,490 shares in the past one quarter. The stock hit a high of Rs 93.90 and a low of Rs 89.10 so far during the day. The stock hit a 52-week high of Rs 171 on 29 May 2015. The stock hit a 52-week low of Rs 76 on 29 February 2016. The stock had underperformed the market over the past one month till 10 May 2016, falling 5.11% compared with 4.45% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.16% as against Sensex's 8.48% rise.
The mid-cap company has an equity capital of Rs 480.29 crore. Face value per share is Rs 10.
The bank's net profit fell 29.23% to Rs 711.38 crore on 4.70% increase in total income to Rs 18025.19 crore in the year ended March 2016 over the year ended March 2015.
The bank's gross non-performing assets (NPAs) stood at Rs 8827.04 crore as on 31 March 2016 as against Rs 7071.35 crore as on 31 December 2015 and Rs 5670.44 crore as on 31 March 2015.
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The ratio of gross NPAs to gross advances stood at 6.66% as on 31 March 2016 as against 5.61% as on 31 December 2015 and 4.40% as on 31 March 2015.
The ratio of net NPAs to net advances stood at 4.20% as on 31 March 2016 as against 3.17% as on 31 December 2015 and 2.50% as on 31 March 2015.
The bank's provisions and contingencies (excluding tax provisions) rose 44.62% to Rs 813.58 crore in Q4 March 2016 over Q4 March 2015. Provision coverage ratio of the bank was at 53.37% as on 31 March 2016.
Government of India holds 82.11% stake in Indian Bank (as on 31 March 2016).
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