Allahabad Bank gains on good Q4 results

Allahabad Bank rose 0.40% to Rs 99.55 at 14:05 IST on BSE after net profit rose 28.45% to Rs 202.63 crore on 2.92% increase in total income to Rs 5390.71 crore in Q4 March 2015 over Q4 March 2014.

The result was announced during trading hours today, 8 May 2015.

Meanwhile, the BSE Sensex was up 513.80 points, or 1.93%, to 27,112.91.

On BSE, so far 6.34 lakh shares were traded in the counter, compared with an average volume of 3.01 lakh shares in the past one quarter.

The stock hit a high of Rs 103.70 and a low of Rs 99 so far during the day. The stock hit a 52-week high of Rs 150 on 11 June 2014. The stock hit a 52-week low of Rs 90.35 on 9 May 2014.

The stock had outperformed the market over the past one month till 7 May 2015, falling 1.44% compared with 6.72% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 9.49% as against Sensex's 7.38% fall.

The mid-cap company has an equity capital of Rs 571.38 crore. Face value per share is Rs 10.

Allahabad Bank's ratio of net non-performing assets (NPAs) to net advances stood at 3.99% as on 31 March 2015, compared with 3.89% as on 31 December 2014 and 4.15% as on 31 March 2014.

The bank's ratio of gross NPAs to gross advances stood at 5.46% as on 31 March 2015, compared with 5.46% as on 31 December 2014 and 5.73% as on 31 March 2014.

Provisions and contingencies rose 30% to Rs 831.11 crore in Q4 March 2015 over Q4 March 2014. The provisioning coverage ratio as on 31 March 2015 stood at 51.50%.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 10.45% as on 31 March 2015, compared with 10.02% as on 31 December 2014 and 9.96% as on 31 March 2014.

Allahabad Bank's net profit fell 47.02% to Rs 620.90 crore on 3.82% increase in total income to Rs 21712.13 crore in the year ended March 2015 over the year ended March 2014.

Government of India holds 60.83% stake in Allahabad Bank (as on 31 March 2015).

Powered by Capital Market - Live News