Indian Bank hits 52-week low after weak Q4 numbers

The bank announced Q4 results during trading hours today, 9 May 2013.

Meanwhile, the S&P BSE Sensex was down 27.15 points or 0.14% at 19,963.03.

On BSE, 2.07 lakh shares were traded in the counter as against average daily volume of 50,571 shares in the past one quarter.

The stock hit a low of Rs 151.10 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 160.90 so far during the day. The stock had hit a 52-week high of Rs 218.85 on 7 January 2013.

The stock had underperformed the market over the past one month till 8 May 2013, sliding 5.71% compared with the Sensex's 8.42% surge. The scrip had also underperformed the market in past one quarter, declining 14.72% as against Sensex's 2.59% rise.

The mid-cap bank has equity capital of Rs 429.77 crore. Face value per share is Rs 10.

Indian Bank's ratio of gross non-performing assets (NPAs) to gross advances increased to 3.33% as on 31 March 2013, from 3.18% as on 31 December 2012 and 2.03% as on 31 March 2012. The ratio of net NPAs to net advances increased to 2.26% as on 31 March 2013, from 2.17% as on 31 December 2012 and 1.33% as on 31 March 2012.

The bank's provisions and contingencies declined 15.34% to Rs 475.60 crore in Q4 March 2013 over Q4 March 2012. Provision coverage ratio stood at 60.14% as on 31 March 2013.

Indian Bank's capital adequacy ratio (CAR) as per Basel II norms improved to 13.08% as on 31 March 2013, from 13.07% as on 31 December 2012 but declined from 13.47% as on 31 March 2012.

Indian Bank's net profit declined 9.49% to Rs 1581.13 crore on 13.18% growth in total income to Rs 15179.41 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

On consolidated basis, Indian Bank's net profit declined 8.86% to Rs 1609.37 crore on 13.14% growth in total income to Rs 15186.20 crore in FY 2013 over FY 2012.

Indian Bank's board of directors at a meeting held today, 9 May 2013, recommended dividend of Rs 6.60 per share for FY 2013.

The Government of India (GoI) holds 80% stake in Indian Bank (as per the shareholding pattern as on 31 March 2013).

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