Indian Overseas Bank lost 2.43% to Rs 48.25 at 14:16 IST on BSE after net profit declined 16.33% to Rs 132.55 crore on 8.78% growth in total income to Rs 5999.75 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced during trading hours today, 25 October 2013.
Meanwhile, the S&P BSE Sensex was up 22.70 points or 0.11% at 20,748.13.
On BSE, 2.21 lakh shares were traded in the counter as against average daily volume of 1.40 lakh shares in the past one quarter.
The stock hit a high of Rs 49.50 and a low of Rs 47.30 so far during the day. The stock had hit a 52-week low of Rs 37.15 on 19 August 2013. The stock had hit a 52-week high of Rs 94.85 on 7 January 2013.
The stock had outperformed the market over the past one month till 24 October 2013, surging 7.85% compared with Sensex's 4.04% gain. The scrip had also outperformed the market over the past one quarter, advancing 4.55% as against Sensex's 3.16% rise.
The mid-cap state-run bank has equity capital of Rs 924.10 crore. Face value per share is Rs 10.
Indian Overseas Bank's (IOB) net interest margin (NIM) stood at Rs 2.31% as on 30 September 2013.
Deposits grew 12.47% to Rs 212705 crore as on 30 September 2013, as against Rs 189115 crore as on 30 September 2012. Advances rose 14.93% to Rs 176300 crore as on 30 September 2013, as against Rs 153393 crore as on 30 September 2012.
Total Capital Adequacy Ratio (CAR) stood at 10.66% as on 30 September 2013. CASA ratio improved to 25.37% as on 30 September 2013 as against 25% as on 30 September 2012.
Gross non-performing assets (NPAs) as on 30 September 2013 stood at Rs 8202 crore with gross NPA ratio of 4.65%. Net NPA as of 30 September 2013 stood at Rs 4875 crore with net NPA ratio of 2.83%.
IOB's provisions and contingencies rose 12.38% to Rs 619.90 crore in Q2 September 2013 over Q2 September 2012. Provision coverage ratio as on 30 September 2013 works out to 59.34% as against 58.53% as on 30 September 2012.
The Government of India (GoI) holds 73.8% stake in IOB (as per the shareholding pattern as on 30 September 2013).
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