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OBC slips as bad loans rise in Q4

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Capital Market

The bank announced Q4 results during trading hours today, 2 May 2013.

Meanwhile, the S&P BSE Sensex was up 224.06 points or 1.15% at 19,728.24.

On BSE, 5.13 lakh shares were traded in the counter as against average daily volume of 86,285 shares over the past one quarter.

The stock hit a high of Rs 277 and a low of Rs 254 so far during the day. The stock had hit a 52-week low of Rs 207.50 on 29 August 2012. The stock had hit a 52-week high of Rs 367.50 on 10 December 2012.

The stock had outperformed the market over the past one month till 30 April 2013, surging 7.05% compared with the Sensex's 3.55% rise. The scrip had, however, underperformed the market in past one quarter, declining 16.2% as against Sensex's 2.5% fall.

 

The mid-cap state-run bank has equity capital of Rs 291.76 crore. Face value per share is Rs 10.

Oriental Bank of Commerce's (OBC) ratio of gross non-performing assets (NPAs) to gross advances rose to 3.21% as on 31 March 2013, from 2.98% as on 31 December 2012 and 3.17% as on 31 March 2012.

OBC's net profit rose 16.24% to Rs 307.94 crore on 9.45% growth in total income to Rs 4996.01 crore in Q4 March 2013 over Q4 March 2012.

OBC's capital adequacy ratio (CAR) as per Basel II norms declined to 12.04% as on 31 March 2013, from 12.25% as on 31 December 2012 and 12.69% as on 31 March 2012.

OBC's provisions and contingencies surged 42% to Rs 758.78 crore in Q4 March 2013 over Q4 March 2012. The provision coverage ratio stood at 63% as on 31 March 2013.

OBC's net profit rose 16.32% to Rs 1327.95 crore on 13.51% growth in total income to Rs 19359.49 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

OBC's board of directors at a meeting held today, 2 May 2013, proposed dividend of Rs 9.20 per share for FY 2013.

The Government of India (GoI) holds 58% stake in OBC (as per the shareholding pattern as on 31 March 2013).

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First Published: May 02 2013 | 12:10 PM IST

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