Weakness prevails in Allahabad Bank counter

The result was announced during trading hours on Tuesday, 7 May 2013. The stock fell 4.78% to Rs 126.50 that day.

Meanwhile, the BSE Sensex was down 11.16 points, or 0.06%, to 19,877.79.

On BSE, 3.68 lakh shares were traded in the counter as against an average daily volume of 2.09 lakh shares in the past one quarter.

The stock hit a high of Rs 126.65 and a low of Rs 121.65 so far during the day. The stock had hit a 52-week high of Rs 190.80 on 18 January 2013. The stock had hit a 52-week low of Rs 103 on 22 August 2012.

The stock had underperformed the market over the past one month till 7 May 2013, falling 1.67% compared with the Sensex's 7.80% rise. The scrip had also underperformed the market in past one quarter, sliding 14.99% as against Sensex's 1.58% rise.

The mid-cap bank has an equity capital of Rs 500.03 crore. Face value per share is Rs 10.

Allahabad Bank's net profit fell 68.48% to Rs 126.15 crore on 5.60% increase in total income to Rs 4776.90 crore in Q4 March 2013 over Q4 March 2012.

Net profit fell 36.51% to Rs 1185.21 crore on 12.43% increase in total income to Rs 18912.60 crore in the year ended March 2013 over the year ended March 2012.

On a consolidated basis, net profit fell 34.83% to Rs 1211.86 crore on 13.07% increase in total income to Rs 19048.93 crore in the year ended March 2013 over the year ended March 2012.

The bank's ratio of net non-performing assets (NPA) to net advances stood at 3.19% as on 31 March 2013, compared with 2.06% as on 31 December 2012 and 0.98% as on 31 March 2012.

The bank's ratio of gross NPA to gross advances stood at 3.92% as on 31 March 2013, compared with 2.91% as on 31 December 2012 and 1.83% as on 31 March 2012.

On a standalone basis, provisions and contingencies rose 36.99% to Rs 622.49 crore in Q4 March 2013 over Q4 March 2012. The provisioning coverage ratio as on 31 March 2013 stood at 50%.

On a standalone basis, the bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 11.03% as on 31 March 2013, compared with 11.96% as on 31 December 2012 and 12.83% as on 31 March 2012.

The Government of India (GoI) holds 55.24% stake in Allahabad Bank as per the shareholding pattern as on 31 March 2013.

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