Bank of India's net profit jumped 63% to Rs 2,374 crore in the September quarter, driven by higher non-interest income. Net NPAs also declined significantly.
Photograph: Ajay Verma/Reuters
New Delhi, Nov 11 (PTI) Bank of India (BoI) on Monday reported a 63 per cent jump in net profit to Rs 2,374 crore for the second quarter ended on September 30, 2024, on higher non-interest income.
The public sector bank had a net profit of Rs 1,458 crore in the quarter ended in September 2023.
Total income increased to Rs 19,872 crore in the July-September quarter of current fiscal, from Rs 16,659 crore in the corresponding quarter of previous fiscal.
Net interest income (NII) increased by 4 per cent YoY to Rs 5,986 crore for Q2FY25 against Rs 5,740 crore in the year ago period. Non-interest income jumped 49 per cent YoY to Rs 2,518 crore during the quarter under review, against Rs 1,688 crore in the corresponding quarter of the previous fiscal.
Net non performing assets (NPA) declined by 29 per cent YoY from Rs 7,978 crore in September 2023 to Rs 5,649 crore in September 2024.
Bank of India shares closed at Rs 112.25 , up 0.63 per cent over previous close on BSE.
Home » Market News » Bank of India Profit Soars 63% in Q2: Rs 2,374 Crore
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback