Oriental Bank of Commerce rose 1.85% to Rs 63.40 at 14:01 IST on BSE after the bank reported net profit of Rs 101.74 crore in Q2 September 2018 compared with net loss of Rs 1749.90 crore in Q2 September 2017.
The result was announced during trading hours today, 25 October 2018.Meanwhile, the S&P BSE Sensex was down 279.34 points, or 0.82% to 33,754.62.
On the BSE, 8.41 lakh shares were traded in the counter so far compared with average daily volumes of 2.37 lakh shares in the past two weeks. The stock had hit a high of Rs 66.70 and a low of Rs 61.25 so far during the day. The stock hit a 52-week high of Rs 159.75 on 26 October 2017. The stock hit a 52-week low of Rs 58.10 on 9 October 2018.
Total income fell 10.04% to Rs 4967.29 crore in Q2 September 2018 over Q2 September 2017.
The bank's gross non-performing assets (NPAs) stood at Rs 25673.31 crore as on 30 September 2018 as against Rs 26141.28 crore as on 30 June 2018 and Rs 26431.86 crore as on 30 September 2017.
The ratio of gross NPAs to gross advances stood at 17.24% as on 30 September 2018 as against 17.89% as on 30 June 2018 and 16.30% as on 30 September 2017.
The ratio of net NPAs to net advances stood at 10.07% as on 30 September 2018 as against 10.63% as on 30 June 2018 and 9.44% as on 30 September 2017.
The bank's provisions and contingencies fell 67.28% to Rs 1073.75 crore in Q2 September 2018 over Q2 September 2017.
Provision coverage ratio of the bank was at 65.31% as on 30 September 2018.
Government of India holds 77.23% stake in Oriental Bank of Commerce (as on 30 September 2018).
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