Indian Overseas Bank fell 3.85% to Rs 26.25 at 9:56 IST on BSE after the bank reported net loss of Rs 1450.50 crore in Q1 June 2016 compared with net profit of Rs 14.76 crore in Q1 June 2015.
The result was announced after market hours yesterday, 9 August 2016.Meanwhile, the BSE Sensex was down 56.62 points, or 0.20%, to 28,028.54.
On BSE, so far 2.77 lakh shares were traded in the counter, compared with average daily volume of 2.83 lakh shares in the past one quarter. The stock hit a high of Rs 26.50 and a low of Rs 25.90 so far during the day. The stock hit a 52-week high of Rs 40.85 on 19 August 2015. The stock hit a 52-week low of Rs 21.10 on 12 February 2016. The stock had underperformed the market over the past 30 days till 9 August 2016, falling 4.21% compared with 1.66% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.24% as against Sensex's 9.72% rise.
The mid-cap bank has equity capital of Rs 1899.01 crore. Face value per share is Rs 10.
Indian Overseas Bank (IOB)'s total income declined 12.05% to Rs 5868.44 crore in Q1 June 2016 over Q1 June 2015.
IOB's gross non-performing assets (NPAs) stood at Rs 33913.15 crore as on 30 June 2016 as against Rs 16451.20 crore as on 31 March 2016 and Rs 30048.63 crore as on 30 June 2015. The ratio of gross NPAs to gross advances stood at 20.48% as on 30 June 2016 as against 9.40% as on 31 March 2016 and 17.40% as on 30 June 2015. The ratio of net NPAs to net advances stood at 13.97% as on 30 June 2016 as against 6.31% as on 31 March 2016 and 11.89% as on 30 June 2015.
The bank's provisions and contingencies (excluding tax provisions) rose 222.17% to Rs 2137.81 crore in Q1 June 2016 over Q1 June 2015. Provision coverage ratio of the bank was at 47.61% as on 30 June 2016.
Government of India holds 73.58% stake in Indian Overseas Bank (as on 30 June 2016).
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