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Canara Bank reports standalone net loss at Rs.3,905.49 crore in Q4FY16 vs net profit of Rs. 612.96 crore yoy : Beats Estimates

Canara Bank reports standalone net loss at Rs.3,905.49 crore in Q4FY16 vs net profit of Rs. 612.96 crore yoy : Beats Estimates

The bank’s standalone NII stood at Rs. 2,373.76 crore, down 4.52% yoy but up 6.61% qoq.

Canara Bank, oldest and one of the major commercial banks of India, reported  standalone net loss of Rs.3,905.49 crore for the quarter ended March 31, 2016. However, the bank had reported net profit of Rs.612.96 crore in the corresponding quarter of the previous year and Rs. 84.97 crore in the preceding quarter. It's Net Interest Income (NII) for the quarter stood at Rs. 2,373.76 crore, declining 4.52% yoy, but clocking growth of 6.61% qoq

Gross non-performing assets (GNPA) for the quarter stood at 9.4% up 551 bps yoy and 356 bps qoq. Provisions at Rs.6,331.54crore were higher 527.15% yoy and 343.12% qoq.

For the year ended March 31, 2016, the bank reported net loss of Rs. 2,812.82crore as compared to net profit of Rs. 2,702.63 crore in the corresponding period of the previous year. It's NII for the current period of Rs. 9,763.36 crore was up  1.03% yoy.

Stock Commentary: 

Canara Bank is currently trading at Rs. 190.35, down by 8.4 points or 4.23% from its previous closing of Rs. 198.75 on the BSE.

The scrip opened at Rs. 197 and has touched a high and low of Rs. 203.1 and Rs. 185.7 respectively. So far 4365554(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10791.95 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 359.85 on 18-Aug-2015 and a 52 week low of Rs. 156.2 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 200.4 and Rs. 178.2 respectively.

The promoters holding in the company stood at 66.3 % while Institutions and Non-Institutions held 25.7 % and 8 % respectively.

The stock is currently trading above its 200 DMA.

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2017-01-04 21:58:57

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2017-01-04 23:48:29

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2017-01-05 00:04:06

Jim I think it showed 2007 on the certificate because that is when he amended it, made changes to the certificate and was stamped accordingly. Many states allow changes to be made to certificates for various reasons and I believe Obama did just that changed a few things around, knowing well that people would come knocking. In doing so HI stamped his 2007 to reflect the year it was changed, updated. Not when he asked for it, 2008.

2017-01-05 00:45:19

I love it how Rathnam films create hype on a National level(North and South alike)!!! I’m planning on catching AAYITHA EZHUTHU on DVD tonight if i get the chance..A.Shah

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2017-01-05 03:48:57

I pondered responding to this article. I am going a bit off topic. The biggest issue that I have with the article is the number of Ruger firearms in the suggested list. I’m still pissed off by ‘Brady Bill’ Ruger’s desire to throw the rest of us off the cliff. The only, that I’m aware of, manufacturer that supported the bans of the Clintonista regime.I’m not saying that Ruger does bad weapons. Some are good. Look into Taurus for pistols.Basically, you get what you pay for for in most things. Sending money to Ruger is a mistake in my opinion.VA:F [1.9.21_1169](from 0 votes)

2017-01-05 03:58:04

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2017-01-05 04:00:14

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2017-01-05 04:05:25

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2017-01-05 04:07:10

Sorry, I scrolled past all the comments, but is it just me, or did the main event have an indie feel to it? That ain’t a negative criticism; I liked it, and everyone involved. They can easily have 3 feuds develop with any of the participants.Also, Daniel Bryan as World Heavyweight Champion for as long as possible, please, Mr. McMahon? You have my permission.

2017-01-11 22:15:21

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Yes, again you are right and clearly paint reality but is being a continuous "Sparta" the faith of Judaism, is it not our religious aim to bring peace to the world?

2017-01-25 10:19:58

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2017-01-25 12:00:24

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2017-01-25 12:19:53

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2017-01-26 03:53:25

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2017-01-27 01:24:31

Many many quality points there.

2017-02-07 01:42:12

To think, I was confused a minute ago.

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