Bank of Baroda spurts after robust Q2 numbers

Bank of Baroda rose 8.90% to Rs 175 at 10:12 IST on BSE after net profit jumped 343.54% to Rs 552.12 crore on 2.1% decline in operating income to Rs 12046.60 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours on Friday, 11 November 2016.

Meanwhile, the BSE Sensex was down 410.69 points, or 1.53%, to 26,408.13.

On BSE, so far 12.96 lakh shares were traded in the counter, compared with average daily volume of 10.87 lakh shares in the past one quarter. The stock hit a high of Rs 175.35 and a low of Rs 166 so far during the day. The stock hit a 52-week high of Rs 182.45 on 30 November 2015. The stock hit a 52-week low of Rs 109.45 on 12 February 2016. The stock had outperformed the market over the past 30 days till 11 November 2016, rising 4.15% compared with the 2.98% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.60% as against Sensex's 4.74% decline.

The large-cap state-run bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.

The bank's gross non-performing assets (NPAs) stood at Rs 42949.25 crore as on 30 September 2016 as against Rs 42991.68 crore as on 30 June 2016 and Rs 23710.33 crore as on 30 September 2015.

The ratio of gross NPAs to gross advances stood at 11.35% as on 30 September 2016 as against 11.15% as on 30 June 2016 and 5.56% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 5.46% as on 30 September 2016 as against 5.73% as on 30 June 2016 and 3.08% as on 30 September 2015.

The bank's provisions and contingencies (excluding tax provisions) fell 5.07% to Rs 1795.84 crore in Q2 September 2016 over Q2 September 2015.

Provision coverage ratio of the bank was at 62.95% as on 30 September 2016.

Government of India holds 59.23% stake in Bank of Baroda (as on 30 September 2016).

Powered by Capital Market - Live News