State Bank of Travancore declines after weak numbers in Q2

State Bank of Travancore lost 4.24% to Rs 426.90 at 11:34 IST on BSE after net profit declined 65.34% to Rs 19.18 crore on 1.66% growth in total income to Rs 2608.90 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced after market hours yesterday, 29 October 2014.

Meanwhile, the S&P BSE Sensex was up 155.40 points or 0.57% at 27,253.57.

On BSE, so far 24,000 shares were traded in the counter as against average daily volume of 8,483 shares in the past one quarter.

The stock hit a high of Rs 432.90 and a low of Rs 417.40 so far during the day. The stock had hit a 52-week low of Rs 364.50 on 14 March 2014. The stock had hit a 52-week high of Rs 662.90 on 11 June 2014.

The stock had underperformed the market over the past one month till 29 October 2014, sliding 1.99% compared Sensex's 1.88% rise. The scrip had also underperformed the market in past one quarter, declining 30.04% as against Sensex's 4.26% rise.

The small-cap bank has equity capital of Rs 59.25 crore. Face value per share is Rs 10.

State Bank of Travancore (SBT)'s ratio of gross non-performing assets (NPAs) to gross advances stood at 5.11% as on 30 September 2014, up from 4.69% as on 30 June 2014 and 3.5% as on 30 September 2013. The ratio of net NPAs to net advances stood at 3.2% as on 30 September 2014, up from 2.93% as on 30 June 2014 and 2.07% as on 30 September 2013.

The bank's provisions and contingencies declined 4.14% to Rs 241.49 crore in Q2 September 2014 over Q2 September 2013.

SBT's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 10.16% as on 30 September 2014 as against 10.28% as on 30 June 2014 and 10.13% as on 30 September 2013.

SBT is an affiliate of State Bank of India (SBI), which is India's biggest commercial bank in terms of branch network. SBI holds 78.91% stake in SBT (as per the shareholding pattern as on 30 September 2014).

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