Bank of Baroda rose 1.32% to Rs 549.60 at 11:28 IST on BSE after net profit rose 3.58% to Rs 1047.84 crore on 9.67% growth in total income to Rs 10622.80 crore in Q3 December 2013 over Q3 December 2012.
The Q3 result was announced during trading hours today, 6 February 2014.
Meanwhile, the S&P BSE Sensex was down 94.72 points or 0.47% at 20,166.31.
On BSE, so far 1.84 lakh shares were traded in the counter as against average daily volume of 2.13 lakh shares in the past one quarter.
The stock hit a high of Rs 556.10 and a low of Rs 543.65 so far during the day. The stock had hit a 52-week low of Rs 429.25 on 20 August 2013. The stock had hit a 52-week high of Rs 804.85 on 6 February 2013.
The stock had underperformed the market over the past one month till 5 February 2014, sliding 16.54% compared with the Sensex's 2.83% fall. The scrip had also underperformed the market in past one quarter, declining 18.27% as against Sensex's 3.4% fall.
The large-cap state-run bank has equity capital of Rs 432.15 crore. Face value per share is Rs 10.
Bank of Baroda (BOB)'s ratio of gross non-performing assets (NPAs) to gross advances stood at 3.32% as on 31 December 2013 as against 3.15% as on 30 September 2013 and 2.41% as on 31 December 2012. The ratio of net NPAs to net advances stood at 1.88% as on 31 December 2013 as against 1.86% as on 30 September 2013 and 1.12% as on 31 December 2012.
The bank's provisions and contingencies declined 26.06% to Rs 761 crore in Q3 December 2013 over Q3 December 2012.
BOB's Capital Adequacy Ratio as per Basel III norms stood at 12.01% as on 31 December 2013 as against 12.07% as on 30 September 2013.
In accordance with RBI circular dated 9 February 2011, out of the additional pension fund liability as on 31 March 2011 of Rs 1829.90 crore towards serving employees who exercised option for pension, a proportionate sum of Rs 91.50 crore has been charged to profit and loss account during Q3 December 2013. The unamortized pension fund liability of Rs 457.47 crore will be charged proportionately in accordance with the directions contained in the said circular, BOB said.
The bank has created deferred tax liability of Rs 272.09 crore during Q3 December 2013 on account of Special Reserve created under Section 36(i)(VIII) of Income Tax Act for the nine months ended 31 December 2013, which is charged to profit and loss account and deferred tax liability of Rs 818.90 crore for special reserve created up to 31 March 2013, by adjustment from general reserve in accordance with Reserve Bank of India circular dated 20 December 2013, BOB said.
The Government of India holds 55.41% stake in Bank of Baroda (as per the shareholding pattern as on 31 December 2013).
Powered by Capital Market - Live News
