Corporation Bank jumps after Q4 results

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Capital Market
Last Updated : May 08 2013 | 3:00 PM IST

The result was announced during trading hours today, 8 May 2013.

Meanwhile, the BSE Sensex was up 47.88 points, or 0.24%, to 19,936.83.

On BSE, 3.33 lakh shares were traded in the counter as against an average daily volume of 8,674 shares in the past one quarter.

The stock hit a high of Rs 401.80 and a low of Rs 377 so far during the day. The stock had hit a 52-week high of Rs 494.85 on 7 January 2013. The stock had hit a 52-week low of Rs 362.05 on 30 August 2012.

The stock had underperformed the market over the past one month till 7 May 2013, sliding 3.27% compared with the Sensex's 7.80% rise. The scrip had also underperformed the market in past one quarter, falling 9% as against Sensex's 1.58% rise.

The mid-cap public sector bank has an equity capital of Rs 152.91 crore. Face value per share is Rs 10.

Net profit fell 4.74% to Rs 1434.67 crore on 16.76% increase in total income to Rs 16942.02 crore in the year ended March 2013 over the year ended March 2012.

On a consolidated basis, net profit fell 4.95% to Rs 1443.24 crore on 16.73% increase in total income to Rs 16954.01 crore in the year ended March 2013 over the year ended March 2012.

The bank's ratio of net non-performing assets to net advances stood at 1.19% as on 31 March 2013, compared with 1.63% as on 31 December 2012 and 0.87% as on 31 March 2012.

The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 1.72% as on 31 March 2013, compared with 2.18% as on 31 December 2012 and 1.26% as on 31 March 2012.

Provisions and contingencies rose 36.19% to Rs 459.92 crore in Q4 March 2013 over Q4 March 2012. The provisioning coverage ratio as on 31 March 2013 stood at 62.06% as against 65.30% as on 31 March 2012.

On a standalone basis, the bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 12.33% as on 31 March 2013, compared with 12.57% as on 31 December 2012 and 13% as on 31 March 2012.

The board of Corporation Bank recommended a dividend of Rs 19 per share for the year ended March 2013.

Government of India holds 59.82% stake in Corporation Bank (as on 31 March 2013).

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First Published: May 08 2013 | 1:35 PM IST

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