Result reaction: BoB's 7.5% drop wipes out Rs 26.74 bn in m-cap
04th February 2013 05:18 PM
Bank of Baroda (BoB), one of the leading public sector lenders, lost Rs 26.74 billionin market capitalisationon Monday asthe bank's stock plunged 7.5%after reporting disappointing quarterly numbers and worsening asset quality.
The bank announced a fall of 21.6% in net profit on year-on-year basis to Rs 10.12 billion for the quarter ended Dec. 31, 2012. Analysts on an average had expected profit to come at Rs 12.39 billion. Total income increased by 9.80% to Rs 96.86 billion for the quarter ended Dec. 31, 2012 as compared to Rs 88.21 billion in the same period last year.
The bank has made provision of Rs 10.29 billion, which was 24.96% higher than the same period last year.
Net NPA was at Rs 33.63 billion for the quarter ended Dec. 31, 2012, as compared to Rs 13.25 billion for the quarter ended Dec. 31, 2011, representing sharp increase of 2.54 times. Meanwhile, in percentage term, net NPA increased to 1.12% as on Dec. 31, 2012 from 0.51% as on Dec. 31, 2011.
Shares of the bank settled at Rs 802.10, down Rs 65.05, or 7.50% at the Bombay Stock Exchange (BSE) on Monday.
The company's market capitalisation decreased by Rs 26.74 billion to Rs 329.76 billion.
Total volume of shares traded on the bourses today was higher by 688.66% to 6,739,221 compared with 22-day average volume of 854,518.
The scrip has touched an intra-day high of Rs 875.50 and low of Rs 798.30.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 880.70 (13.55) (1.54) 1 Month 888.50 (21.35) (2.40) 3 Months 743.10 124.05 16.69 6 Months 653.30 213.85 32.73 1 Year 762.90 104.25 13.66 Note: Based on previous day closing price.
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