Indian Bank lost 6.36% to Rs 90.50 at 13:58 IST on BSE after net profit declined 31.26% to Rs 317.39 crore on 16.65% growth in total income to Rs 4195.47 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced during market hours today, 29 July 2013.
Meanwhile, the S&P BSE Sensex was down 136.91 points or 0.69% at 19,611.28.
On BSE, 2.80 lakh shares were traded in the counter as against average daily volume of 20,264 shares in the past one quarter.
The stock hit a low of Rs 88.50 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 95.85 so far during the day. The stock had hit a 52-week high of Rs 218.85 on 7 January 2013.
The stock had underperformed the market over the past one month till 26 July 2013, sliding 12.97% compared with the Sensex's 6.45% surge. The scrip had also underperformed the market in past one quarter, declining 40.71% as against Sensex's 2.39% rise.
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The mid-cap state-run bank has equity capital of Rs 429.77 crore. Face value per share is Rs 10.
Indian Bank's ratio of net non-performing assets (NPA) increased to 2.31% as on 30 June 2013, from 2.26% as on 31 March 2013 and 1.04% as on 30 June 2012. The ratio of gross NPA to gross advances increased to 3.41% as on 30 June 2013, from 3.33% as on 31 March 2013 and 1.66% as on 30 June 2012.
The bank's provisions and contingencies surged 152.65% to Rs 368.12 crore in Q1 June 2013 over Q1 June 2012.
Indian Bank's capital adequacy ratio (CAR) as per Basel II norms stood at 13.06% as on 30 June 2013, as against 13.08% as on 31 March 2013 and 12.98% as on 30 June 2012. CAR as per Basel III norms as on 30 June 2013 works out to 12.58%.
The bank's provision coverage ratio works out to 61.25% as on 30 June 2013.
The Government of India (GoI) holds 80% stake in Indian Bank (as per the shareholding pattern as on 30 June 2013).
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