IDBI Bank tumbles after poor Q1 numbers

IDBI Bank slumped 6.68% to Rs 85.15 at 15:12 IST on BSE after net profit fell 65.85% to Rs 104.81 crore on 2.87% decline in total income to Rs 7231.37 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 6 August 2014.

Meanwhile, the S&P BSE Sensex was down 208.74 points or 0.81% at 25,699.27.

On BSE, so far 13.30 lakh shares were traded in the counter as against average daily volume of 7.03 lakh shares in the past one quarter.

The stock hit a high of Rs 91.40 and a low of Rs 84.50 so far during the day. The stock had hit a 52-week low of Rs 52.30 on 4 September 2013. The stock had hit a 52-week high of Rs 116.50 on 9 June 2014.

The stock had underperformed the market over the past one month till 5 August 2014, sliding 15.35% compared with the Sensex's 0.21% fall. The scrip had, however, outperformed the market in past one quarter, jumping 32.92% as against Sensex's 15.43% rise.

The large-cap company has equity capital of Rs 1603.95 crore. Face value per share is Rs 10.

IDBI Bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 5.64% as on 30 June 2014 as against 4.9% as on 31 March 2014 and 4.34% as on 30 June 2013. The ratio of net NPAs to net advances stood at 2.87% as on 30 June 2014 as against 2.48% as on 31 March 2014 and 2.16% as on 30 June 2013.

The provisions and contingencies declined 6.44% to Rs 776.16 crore in Q1 June 2014 over Q1 June 2013.

IDBI Bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 11.78% as on 30 June 2014 as against 11.68% as on 31 March 2014 and 12.58% as on 30 June 2013.

The Government of India (GoI) holds 76.5% stake in IDBI Bank (as per the shareholding pattern as on 30 June 2014).

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