Bank of Baroda fell 9.20% to Rs 145.55 at 15:15 IST on BSE, extending intraday losses after the bank announced weak Q1 results before trading hours today, 11 August 2016.
Meanwhile, the BSE Sensex was up 68.99 points, or 0.25% at 27,843.87.The counter clocked high volumes. On BSE, so far 41.07 lakh shares were traded in the counter, compared with average daily volume of 11.52 lakh shares in the past one quarter. Trading was volatile on the counter. The stock fell 4.55% at the day's high of Rs 153 in early trade. The stock fell 9.51% at the day's low of Rs 145.05 so far during the day. The stock hit a 52-week high of Rs 216.25 on 18 August 2015. The stock hit a 52-week low of Rs 109.45 on 12 February 2016. The stock had underperformed the market over the past 30 days till 10 August 2016, falling 0.28% compared with 0.12% decline in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.65% as against Sensex's 7.70% rise.
The large-cap state-run bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.
Bank of Baroda's net profit fell 59.74% to Rs 423.62 crore on 2.99% decline in total income to Rs 11877.91 crore in Q1 June 2016 over Q1 June 2015.
The bank's gross non-performing assets (NPAs) stood at Rs 42991.68 crore as on 30 June 2016 as against Rs 40521.04 crore as on 31 March 2016 and Rs 17273.95 crore as on 30 June 2015. The ratio of gross NPAs to gross advances stood at 11.15% as on 30 June 2016 as against 9.99% as on 31 March 2016 and 4.13% as on 30 June 2015. The ratio of net NPAs to net advances stood at 5.73% as on 30 June 2016 as against 5.06% as on 31 March 2016 and 2.07% as on 30 June 2015.
The bank's provisions and contingencies (excluding tax provisions) surged 234.16% to Rs 2004.07 crore in Q1 June 2016 over Q1 June 2015. Provision coverage ratio of the bank was at 60.17% as on 30 June 2016.
Government of India holds 59.23% stake in Bank of Baroda (as on 30 June 2016).
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