 "Dena Bank shares nosedive over 12% on Q3 loss")
Dena Bank's scrip on Tuesday nosedived by over 12 per cent after the company reported a loss of Rs 662.85 crore for the third quarter ended December 31.
Shares of the state-run firm tumbled 12.10 per cent to settle at Rs 31.25 on BSE. Intra-day, it tanked 13.64 per cent to Rs 30.70 --- its 52-week low.
On NSE, shares of the company slumped 12.23 per cent to close the day at Rs 31.20.
The company lost Rs 276.57 crore to Rs 2,016.43 crore in market capitalisation.
In terms of volume, 7.17 lakh shares of the company changed hands at BSE and over 42 lakh shares were traded at NSE during the day.
State-run Dena Bank on Tuesday reported a loss of Rs 662.85 crore for the third quarter ended December 31, due to significant jump in bad loans.
The bank had earned a net profit of Rs 76.56 crore in the same quarter last year. Total income also declined to Rs 2,722.23 crore during the quarter from Rs 2,867.32 crore in the previous financial year.
Gross NPAs as a percentage to total advances rose significantly to 9.85 per cent from 5.61 per cent in the same quarter year ago.
Net NPAs went up to 6.68 per cent from 3.97 per cent at the end of December 2014.
