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Punjab & Sind Bank drops after poor Q3 results

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Capital Market Mumbai

The bank announced Q3 results after market hours on Thursday, 31 January 2013.

Meanwhile, the BSE Sensex was down 1.31 points or 0.01% at 19,893.67.

On BSE, 22,000 shares were traded in the counter as against average daily volume of 88,444 shares in the past one quarter.

The stock hit a high of Rs 71.25 and a low of Rs 70.55 so far during the day. The stock had hit a 52-week high of Rs 94.65 on 17 February 2012. The stock had hit a 52-week low of Rs 59 on 30 August 2012.

The stock had underperformed the market over the past one month till 31 January 2013, gaining 0.21% compared with the Sensex's 2.41% rise. The scrip had, however, outperformed the market in past one quarter, jumping 11.1% as against Sensex's 7.51% surge.

 

The state-run bank has equity capital of Rs 234.21 crore. Face value per share is Rs 10.

Punjab & Sind Bank's operating profit rose 54.75% to Rs 285.97 crore in Q3 December 2012 over Q3 December 2011.

Punjab & Sind Bank's ratio of gross non-performing assets (NPA) to gross advances stood at 2.55% as on 31 December 2012, higher than 2.17% as on 30 September 2012 and 1.28% as on 31 December 2011.The ratio of net NPAs to net advances stood at 1.86% as of 31 December 2012, higher than 1.58% as of 30 September 2012 and 0.88% as on 31 December 2011.

The bank's provisions and contingencies for non-performing assets galloped 423.88% to Rs 147.16 crore in Q3 December 2012 over Q3 December 2011. Provision coverage ratio stood at 59% as on 31 December 2012.

Punjab & Sind Bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 12.23% as on 31 December 2012, lower than 12.75% as on 30 September 2012 and 12.99% as on 31 December 2011.

The bank's total business grew 17.42% to Rs 119601 crore as on 31 December 2012, as against Rs 101855 crore as on 31 December 2011.

The Government of India (GoI) holds 78.16% stake in Punjab & Sind Bank (as per the shareholding pattern as on 31 December 2012).

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First Published: Feb 01 2013 | 11:32 PM IST

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