State Bank of Bikaner and Jaipur drops after posting dismal Q4 result

State Bank of Bikaner and Jaipur dropped 3.97% to Rs 515 at 14:05 IST on BSE after net profit declined 31.05% to Rs 193.22 crore on 2.83% growth in total income to Rs 2709.36 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during market hours today, 29 April 2016.

Meanwhile, the BSE Sensex was down 131.11 points, or 0.51%, to 25,473.96.

Higher than normal volumes were witnessed on the counter. On BSE, so far 12,388 shares were traded in the counter, compared with an average volume of 3,637 shares in the past one quarter. The stock hit a high of Rs 541.25 and a low of Rs 511.95 so far during the day. The stock hit a 52-week high of Rs 603.30 on 6 May 2015. The stock hit a 52-week low of Rs 444 on 5 October 2015. The stock had outperformed the market over the past one month till 28 April 2016, gaining 7.16% compared with Sensex's 2.55% rise. The scrip had also outperformed the market in past one quarter, advancing 10.44% as against Sensex's 4.63% rise.

The mid-cap bank has equity capital of Rs 70 crore. Face value per share is Rs 10.

State Bank of Bikaner and Jaipur's gross non-performing advances stood at Rs 3602.76 crore as on 31 March 2016 compared with Rs 3079.01 crore as on 31 December 2015 and Rs 2945.14 crore as on 31 March 2015. The ratio of gross non-performing advances to gross advances stood at 4.82% as on 31 March 2016 higher compared with 4.22% as on 31 December 2015 and 4.14% as on 31 March 2015. The ratio of net non-performing advances to net advances stood at 2.75% as on 31 March 2016 as against 2.2% as on 31 December 2015 and 2.54% as on 31 March 2015. The bank's provisions and contingencies jumped 46.44% to Rs 323.65 crore in Q4 March 2016 over Q4 March 2015.

The bank's provision coverage ratio to gross non-performing assets as on 31 March 2016 stood at 62.11%.

State Bank of India held 75.07% stake in the bank as per the shareholding pattern as at 31 March 2016.

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