Indian Overseas Bank tumbled 6.86% to Rs 62.50 at 15:26 IST on BSE after net profit declined 88.86% to Rs 58.87 crore on 8.92% growth in total income to Rs 5898.15 crore in Q4 March 2013 over Q4 March 2012.
The bank announced Q4 results during trading hours today, 29 April 2013.
Meanwhile, the S&P BSE Sensex was up 97.97 points or 0.51% at 19,384.69.
On BSE, 8.02 lakh shares were traded in the counter as against average daily volume of 1.99 lakh shares in the past two weeks.
The stock hit a low of Rs 62.30 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 68.50 so far during the day.
Indian Overseas Bank's (IOB) net profit declined 45.98% to Rs 567.23 crore on 15.68% growth in total income to Rs 22649.63 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).
IOB's provisions and contingencies jumped 206.13% to Rs 1186.56 crore in Q4 March 2013 over Q4 March 2012. The bank's provision coverage ratio stood at 58.89% as on 31 March 2013.
The state-run bank's ratio of gross non-performing assets (NPA) to gross advances improved to 4.02% as on 31 March 2013, from 4.13% as on 31 December 2012, but jumped from 2.74% as on 31 March 2012. The ratio of net NPAs to net advances stood at 2.5% as of 31 March 2013, higher than 2.33% as on 31 December 2012 and 1.35% as of 31 March 2012. Capital Adequacy Ratio (CAR) as per Basel II norms stood at 11.85% as on 31 March 2013, higher than 11.65% as on 31 December 2012, but lower than 13.32% as on 31 March 2012.
The Government of India (GoI) holds 73.8% stake in IOB (as per the shareholding pattern as on 31 March 2013).
Powered by Capital Market - Live News
