Dena Bank declines on asset quality concerns

Dena Bank fell 1.18% to Rs 54.25 at 14:45 IST on BSE as ratio of net non-performing assets to net advances stood at 3.97% as on 31 December 2014, higher than 3.59% as on 30 September 2014 and 2% as on 31 December 2013.

The bank announced Q3 results during market hours today, 6 February 2015.

Meanwhile, the BSE Sensex was down 159.19 points, or 0.55%, to 28,691.78.

On BSE, so far 8.18 lakh shares were traded in the counter, compared with an average volume of 2.45 lakh shares in the past one quarter.

The stock hit a high of Rs 55.40 so far in intraday trade. The stock hit a low of Rs 51 so far during the day, also a 52-week low for the stock. The stock hit a 52-week high of Rs 94.40 on 9 June 2014.

The stock had underperformed the market over the past one month till 5 February 2015, falling 12.72% compared with 3.62% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 16.18% as against Sensex's 3.35% rise.

The mid-cap PSU bank has equity capital of Rs 537.82 crore. Face value per share is Rs 10.

Dena Bank's net profit rose 12.92% to Rs 76.56 crore on 7.68% rise in total income to Rs 2867.32 crore in Q3 December 2014 over Q3 December 2013.

The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 5.61% as on 31 December 2014, compared with 5.12% as on 30 September 2014 and 2.96% as on 31 December 2013.

Provisions and contingencies fell 36.89% to Rs 241.33 crore in Q3 December 2014 over Q3 December 2013. The provisioning coverage ratio as on 31 December 2014 stood at 50.94%.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 10.76% as on 31 December 2014, compared with 10.99% as on 30 September 2014 and 10.61% as on 31 December 2013.

Government of India holds 58.1% stake in the bank (as on 31 December 2014).

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