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Bank of India net profit rises 90.75 percent

Mumbai, Oct 22 (IANS) State-run Bank of India (BoI) Friday reported a 90.75 percent rise in net profit at Rs.616.78 crore for the quarter ended Sep 30, compared to Rs.323.3 crore in the previous corresponding period.

Total income went up Rs.5,740 crore in the quarter under review compared to Rs.5,164.96 crore in the year-ago period.

Interest earned from advances rose 10.89 percent to Rs.3,659.79 crore, while income from investments went up 21.4 percent to Rs.1,307.15 crore.

BoI’s net interest income grew 26 percent to Rs.1,776.1 crore as against Rs.1,408.9 crore in the same quarter an year ago.

During the first half of the current fiscal, ending Sep 30, the bank’s net profie logged a 47.8 percent jump to Rs.1,341.9 crore, compared to Rs.907.6 crore in the same period last fiscal.

The BoI scrip ended 2.78 percent lower at Rs.536.55 Friday.

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