BoB tanks over 10%, m-cap sinks Rs 4,446 cr post Q3

Shares of Bank of Baroda today

slumped over 10 per cent, wiping out Rs 4,446.31 crore from

its market valuation, after the company's December quarter

earnings came in below Street estimates.

The stock tumbled 10.26 per cent to end at Rs 168.75 on

BSE. During the day, it plunged 10.66 per cent to Rs 168.

At NSE, the company plummeted 10.23 per cent to close at

Rs 168.80.

Led by the sharp fall in the stock price, the company's

market valuation tanked Rs 4,446.31 crore to Rs 38,882.69

crore.

On the volume front, 37.46 lakh shares of the company

were traded on BSE and over 3 crore shares changed hands at

NSE during the day.

"BOB earnings were below estimates," brokerage Prabhudas

Lilladher said in a report.

Public lender Bank of Baroda on Friday reported a net

profit of Rs 252.67 crore during the third quarter to

December.

The bank had registered a net loss of Rs 3,342.04 crore in

the same quarter of 2015-16.

"Total income has increased to Rs 12,181.04 crore for the

quarter ended December 2016, from Rs 11,726.95 crore in the

same quarter a year earlier," the bank said in a regulatory

filing.

Asset quality saw further slippages as gross

non-performing assets (NPAs) rose to 11.40 per cent of gross

advances during the quarter even though it was stable

sequentially compared with 11.35 per cent in the September

quarter of the current fiscal.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)