Bank of Baroda fell 6.97% to Rs 144.15 at 9:26 IST on BSE after the bank reported net loss of Rs 3230.14 crore in Q4 March 2016 compared with net profit of Rs 598.35 crore in Q4 March 2015.
The result was announced after market hours on Friday, 13 May 2016.
Meanwhile, the BSE Sensex was down 34.04 points, or 0.13%, to 25,455.53.
On BSE, so far 7.54 lakh shares were traded in the counter, compared with an average volume of 12.45 lakh shares in the past one quarter. The stock hit a high of Rs 151.50 and a low of Rs 143.30 so far during the day. The stock hit a 52-week high of Rs 216.25 on 18 August 2015. The stock hit a 52-week low of Rs 109.45 on 12 February 2016. The stock had outperformed the market over the past one month till 13 May 2016, rising 1.64% compared with 0.54% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 35.51% as against Sensex's 10.89% rise.
The large-cap company has an equity capital of Rs 460.83 crore. Face value per share is Rs 2.
Bank of Baroda (BoB)'s total income rose 6.06% to Rs 12789.06 crore in Q4 March 2016 over Q4 March 2015. The bank's gross non-performing assets (NPA) stood at Rs 40521.04 crore as on 31 March 2016 compared with Rs 38934.11 crore as on 31 December 2015 and Rs 16261.45 crore as on 31 March 2015. The ratio of gross NPA to gross advances stood at 9.99% as on 31 March 2016 compared with 9.68% as on 31 December 2015 and 3.72% as on 31 March 2015. The ratio of net NPA to net advances stood at 5.06% as on 31 March 2016 compared with 5.67% as on 31 December 2015 and 1.89% as on 31 March 2015. BOB's provisions and contingencies jumped 277.31% to Rs 6857.66 crore in Q4 March 2016 over Q4 March 2015.
BOB's board of directors has not announced dividend for the financial year ended 31 March 2016 (FY 2016) as the bank reported net loss in FY 2016.
BoB said that its asset quality has stabilized and that the management expects the bank to return to black during the current financial year. The state-run bank posted a massive net loss of Rs 5395.55 crore in the year ended 31 March 2016 (FY 2016) as against a net profit of Rs 3398.43 crore in the year ended 31 March 2015 (FY 2015). The reason for the massive net loss was due to additional provisions that the state-run bank made with respect to certain loans in Q3 December 2015 and Q4 March 2016 as a part of an asset quality review (AQR) being carried out by the Reserve Bank of India for the banking sector as a whole. The provision coverage ratio (PCR) of the bank improved to 60.09% as on 31 March 2016 from 52.7% as on 31 December 2015. The total restructured standard assets of the bank dropped to Rs 13735 crore on 31 March 2016 from Rs 17135 crore as on 31 December 2015.
The Government of India held 59.24% in Bank of Baroda (as per the shareholding pattern as on 31 March 2016).
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