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Allahabad Bank stock falls 3.5 pc as loss widens in Q2

Press Trust of India  |  New Delhi 

The stock of Allahabad Bank on Friday fell 3.5 per cent after the company reported widening of net loss to Rs 2,103.19 crore for the September quarter 2019-20.

The stock of the company declined 3.52 per cent to close at Rs 26.05 on the BSE. During the day, it plunged 11.29 per cent to Rs 23.95.

On the NSE, it dropped 3.51 per cent to close at Rs 26.05.

The state-owned lender had registered a loss of Rs 1,816.19 crore during the year-ago period, according to a regulatory filing.

In the preceding June quarter, the bank clocked a profit of Rs 128 crore.

Total income during July-September 2019, however, rose to Rs 4,725.23 crore from Rs 4,492.23 crore in the same period last fiscal, the filing said.

Gross non-performing assets (NPAs) or bad loans increased to 19.05 per cent (Rs 31,467.53 crore) of the gross advances as on September 30, 2019 from 17.53 per cent (Rs 27,236.19 crore) by the same period of 2018.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 08 2019. 17:35 IST