IDBI Bank tumbles after weak Q1 results

IDBI Bank shares were trading with heavy losses after the bank announced its Q1 June 2019 result after market hours on Wednesday, 14 August 2019.

The scrip fell 7.92% to Rs 25 at 10:52 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 68.64 points or 0.18% to 37,242.89.

On the BSE, 9.28 lakh shares were traded in the counter so far compared with average daily volumes of 4.35 lakh shares in the past two weeks. The stock hit a high of Rs 25.3 and a low of Rs 23.8 so far during the day.

The stock hit a 52-week high of Rs 65.80 on 09 Jan 2019. The stock hit a 52-week low of Rs 25.30 on 16 Aug 2019.

The bank reported a net loss of Rs 3800.84 crore in Q1 June 2019 over a net loss of Rs 2409.89 crore in Q1 June 2018. Total Income fell 7.5% to Rs 5923.93 crore in Q1 June 2019 over Q1 June 2018.

It reported a net interest income of Rs 1,458 crore for Q1 June 2019 as against Rs 1,639 crore in Q1 June 2018 while the net interest margin stood at 2.13% for Q1 June 2019 as compared to 2.17% for Q1 June 2018.

The bank's CASA increased to Rs 99,590 crore as in Q1 June 2019 as against Rs 85,180 crore as in Q1 June 2018, an increase of 16.92%.

Its structured retail assets portfolio increased by 19% to Rs 8,763 crore to Rs 54,938 crore as on 30 June 2019 from Rs 46,176 crore as on 30 June 2018.

The bank reported that gross NPA ratio improved to 29.12% as on June 30, 2019 as against 30.78% as on June 30, 2018.

It further added that net NPA ratio improved to 8.02% as on June 30, 2019 as against 18.76% as on June 30, 2018 and 10.11% as on March 31, 2019.

IDBI Bank is a full service universal bank that serves the customers from all segments. It is one of India's largest commercial banks.

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