Bank of India's Q3 net profit stood at Rs 101 crore; shares jump
The bank's gross non-performing assets (NPAs) stood at 13.38% as against 9.18% during the same period last year.
Shares of Bank of India climbed on the back of positve financial result for the quarter ended on December 31. At 1328 hours the shares of the bank were trading at Rs 136.05 per piece, up 2.56% or Rs 3.40 on BSE.
The company reported a net profit of Rs 101.7 crore during the quarter ended on December 31,2016 as against the net loss of Rs 1505.5 crore during December 31, 2015 quarter.
The bank in a regulatory filing said that its total income increased to Rs 11,594 crore in Q3FY17 from Rs 11086.9 crore in Q3FY16.
The bank's gross non-performing assets (NPAs) stood at 13.38% as against 9.18% during the same period last year and 13.45% in the quarter before (Q2FY17). The net NPAs stood at 7.09% in Q3FY17 as compared to 5.25% in Q3FY16 and 7.56% in Q2FY17.
The provisions during the quarter was Rs 2,550 crore as against Rs 3,510 crore a year-ago.
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