Canara Bank dropped 4.5% to Rs 189.80 at 15:25 IST on BSE after the bank reported net loss of Rs 3905.49 crore in Q4 March 2016 compared with net profit of Rs 612.96 in Q4 March 2015.
The result was announced during market hours today, 27 May 2016.Meanwhile, the S&P BSE Sensex was up 262.59 points or 1% at 26,613.56.
High volumes were witnessed on the counter. On BSE, so far 8.96 lakh shares were traded in the PSU bank's counter as against average daily volume of 2.55 lakh shares in the past one quarter. The stock hit a high of Rs 203.10 and a low of Rs 185.70 so far during the day.
Canara Bank's total income fell 2.51% to Rs 12116.14 crore in Q4 March 2016 over Q4 March 2015. The bank's gross non-performing assets (NPAs) stood at Rs 31637.83 crore as on 31 March 2016 as against Rs 19813.44 crore as on 31 December 2015 and Rs 13039.96 crore as on 31 March 2015. The ratio of gross NPAs to gross advances stood at 9.4% as on 31 March 2016 as against 5.84% as on 31 December 2015 and 3.89% as on 31 March 2015. The ratio of net NPAs to net advances stood at 6.42% as on 31 March 2016 as against 3.9% as on 31 December 2015 and 2.65% as on 31 March 2015.
The bank's provisions and contingencies jumped 527.15% to Rs 6331.54 crore in Q4 March 2016 over Q4 March 2015.
The Government of India held 66.3% stake in Canara Bank as per the shareholding pattern as on 31 March 2016.
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