Central Bank of India tumbles to 52-week low after poor Q1 numbers

Central Bank of India tumbled 7.57% to Rs 57.35 at 10:22 IST on BSE after net profit declined 93.5% to Rs 21.93 crore on 14.6% growth in total income to Rs 6443.45 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced after market hours on Wednesday, 24 July 2013.

Meanwhile, the S&P BSE Sensex was down 63.32 points or 0.32% at 20,027.36.

On BSE, 1.80 lakh shares were traded in the counter as against average daily volume of 1.18 lakh shares in the past one quarter.

The stock lost as much as 10.55% at the day's low of Rs 55.50 so far during the day, which is also its 52-week low for the counter. The stock hit a high of Rs 58.80 so far during the day. The stock had hit a 52-week high of Rs 95.60 on 9 January 2013

The stock had underperformed the market over the past one month till 24 July 2013, rising 2.31% compared with the Sensex's 8.36% jump. The scrip had also underperformed the market in the past one quarter, sliding 10.98% as against Sensex's 4.75% rise.

The mid-cap state-run bank has equity capital of Rs 1044.58 crore. Face value per share is Rs 10.

Central Bank of India's (CBI) ratio of net non-performing assets (NPAs) to net advances surged to 3.85% as on 30 June 2013, from 2.9% as on 31 March 2013 and 3.22% as on 30 June 2012. The ratio of gross NPAs to gross advances jumped to 6.03% as on 30 June 2013, from 4.8% as on 31 March 2013 and 4.87% as on 30 June 2012.

The bank's provisions and contingencies jumped 178.6% to Rs 983.26 crore in Q1 June 2013 over Q1 June 2012.

CBI's capital adequacy ratio (CAR) as per Basel II norms stood at 11.43% as on 30 June 2013, as against 11.49% as on 31 March 2013 and 11.58% as on 30 June 2012.

The Government of India (GoI) holds 85.31% stake in Central Bank of India (as per the shareholding pattern as on 30 June 2013).

Powered by Capital Market - Live News