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Stock Report
Oriental Bank of Commerce Q1 net profit at Rs.139.18 Crores
Posted On : 2007-07-30 01:42:17( TIMEZONE : IST )
Oriental Bank of Commerce (OBC) has announced the following Un-Audited results for the quarter ended June 30, 2007.
The Bank has posted a net profit of Rs 1391.80 million for the quarter ended June 30, 2007 as compared to Rs 940.20 million for the quarter ended June 30, 2006. Total Income has increased from Rs 13040.20 million for the quarter ended June 30, 2006 to Rs 16803.40 million for the quarter ended June 30, 2007.
The company has reported an Earnings Per Share (EPS) of Rs.5.56 for the Quarter ending June 30, 2007 compared to Rs.6.2 for Quarter ending June 30, 2006.
The capital adequacy ratio of the bank stood at 13.85% during quarter ended June 30, 2007 as compared to 12.1% during quarter ended June 30, 2006.
The stock was trading at Rs.238.25, up by Rs.5.50 or 2.36%. The stock hit an intraday high of Rs.241 and low of Rs.226. The total traded quantity was 27267 compared to 2 week average of 102489.
The excess of liabilities over assets taken over amounting to Rs 12257.20 million of erstwhile Global Trust Bank Ltd. pursuant to amalgamation has been debited to an account titled ‘Amalgamation Adjustment Account’ and included under ‘Other Assets’- The bank has been writing off the intangible asset Amalgamation Adjustment Account’ equally over a period of five years commencing from the year ended March 31, 2006. Accordingly, the bank has written off Rs 7992.40 million upto June 30, 2007 and the balance lying in ‘Amalgamation Adjustment Account’ is Rs 4264.80 million.
