IDBI Bank drops to 52-week low after weak Q1 numbers

IDBI Bank lost 1.3% to Rs 68.55 at 14:51 IST on BSE after net profit declined 28.17% to Rs 306.95 crore on 9.65% growth in total income to Rs 7445.42 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced during trading hours today, 18 July 2013.

Meanwhile, the S&P BSE Sensex was up 63.49 points or 0.32% at 20,012.22.

On BSE, 8.19 lakh shares were traded in the counter as against average daily volume of 2.16 lakh shares in the past one quarter.

The stock hit a low of Rs 66.40 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 69.85 so far during the day. The stock had hit a 52-week high of Rs 118.20 on 9 January 2013.

The stock had underperformed the market over the past one month till 17 July 2013, sliding 10.62% compared with the Sensex's 3.22% rise. The scrip had also underperformed the market in past one quarter, declining 17.76% as against Sensex's 6.5% rise.

The state-run bank has equity capital of Rs 1332.77 crore. Face value per share is Rs 10.

IDBI Bank's ratio of net non-performing assets (NPAs) to net advances increased to 2.16% as on 30 June 2013, from 1.58% as on 31 March 2013 and 2.07% as on 30 June 2012. The ratio of gross NPAs to gross advances increased to 4.34% as on 30 June 2013, from 3.22% as on 31 March 2013 and 3.24% as on 30 June 2012.

The bank's provisions and contingencies surged 62.73% to Rs 829.67 crore in Q1 June 2013 over Q1 June 2012.

IDBI Bank's capital adequacy ratio (CAR) as per Basel II norms stood at 13.35% as on 30 June 2013, as against 13.13% as on 31 March 2013 and 14.36% as on 30 June 2012. CAR as per Basel III norms stood at 12.58% as on 30 June 2013.

The Government of India (GoI) holds 71.72% stake in IDBI Bank (as per the shareholding pattern as on 30 June 2013).

Powered by Capital Market - Live News