Bank of India tumbles after weak Q3 outcome

Bank of India fell 5.71% to Rs 227.80 at 12:32 IST on BSE after net profit fell 70.40% to Rs 173.38 crore on 9.95% increase in total income to Rs 11947.45 crore in Q3 December 2014 over Q3 December 2013.

The result was announced during trading hours today, 12 February 2015.

Meanwhile, the BSE Sensex was down 91.75 points, or 0.32%, to 28,442.22.

On BSE, so far 12.92 lakh shares were traded in the counter, compared with an average volume of 4.52 lakh shares in the past one quarter.

The stock hit a high of Rs 244.75 and a low of Rs 226.65 so far during the day. The stock hit a 52-week high of Rs 356.75 on 26 May 2014. The stock hit a 52-week low of Rs 166 on 20 February 2014.

The stock had underperformed the market over the past one month till 11 February 2015, falling 17.77% compared with 3.92% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 17.80% as against Sensex's 2.24% rise.

The large-cap company has an equity capital of Rs 642.26 crore. Face value per share is Rs 10.

Bank of India's ratio of net non-performing assets (NPAs) to net advances stood at 2.50% as on 31 December 2014, compared with 2.32% as on 30 September 2014 and 1.75% as on 31 December 2013.

The bank's ratio of gross NPAs to gross advances stood at 4.07% as on 31 December 2014, compared with 3.54% as on 30 September 2014 and 2.81% as on 31 December 2013.

Provisions and contingencies rose 12.61% to Rs 1580.72 crore in Q3 December 2014 over Q3 December 2013. The provisioning coverage ratio as on 31 December 2014 stood at 56.62%.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 10.68% as on 31 December 2014, compared with 10.97% as on 30 September 2014 and 10.84% as on 31 December 2013.

Government of India holds 66.70% stake in Bank of India (as on 31 December 2014).

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