Indian Overseas Bank lost 3.49% to Rs 45.65 at 14:54 IST on BSE after net profit declined 46.11% to Rs 125.80 crore on 14.51% growth in total income to Rs 6187.15 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced during trading hours today, 25 July 2013.
Meanwhile, the BSE Sensex was down 218.86 points or 1.09% at 19,871.82.
On BSE, 3.36 lakh shares were traded in the counter as against average daily volume of 1.22 lakh shares in the past one quarter.
The stock hit low of Rs 44.40 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 47.25 so far during the day. The stock had hit a 52-week high of Rs 94.85 on 7 January 2013.
The stock had underperformed the market over the past one month till 24 July 2013, sliding 4.35% compared with the Sensex's 8.36% jump. The scrip had also underperformed the market in the past one quarter, declining 29.72% as against Sensex's 4.75% rise.
The mid-cap state-run bank has equity capital of Rs 924.10 crore. Face value per share is Rs 10.
Indian Overseas Bank's (IOB) operating profit rose 24.52% to Rs 1054.42 crore in Q1 June 2013 over Q1 June 2012. Net interest income (NII) declined 0.9% year on year (YoY) to Rs 1316.22 crore in Q1 June 2013. Non-interest income including profit on sale of investments surged 108.27% to Rs 784.52 crore in Q1 June 2013 over Q1 June 2012. Net interest margin (NIM) stood at 2.24% in Q1 June 2013.
IOB's gross advances rose 12.47% to Rs 166874 crore as on 30 June 2013, from Rs 148366 crore as on 30 June 2012. Deposits grew 6.13% YoY to Rs 196213 crore as on 30 June 2013.
The bank's CASA ratio as on 30 June 2013 stood at 25.61%.
IOB's total capital funds stood at Rs 17902.66 crore as on 30 June 2013, under Basel III norms.
Gross non-performing assets (NPAs) ratio surged to 4.45% as on 30 June 2013, from 2.97% as on 30 June 2012. Net NPA ratio jumped to 2.81% as on 30 June 2013, from 1.48% as on 30 June 2012.
IOB's provision coverage ratio stood at 58.69% as on 30 June 2013.
The Government of India (GoI) holds 73.8% stake in IOB (as per the shareholding pattern as on 30 June 2013).
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