Bank of India swings to first-quarter profit, bad loans fall
Bank of India
Net profit was 877.1 million rupees ($13.76 million) in the quarter ended June 30, compared with a loss of 7.41 billion rupees a year earlier, the Mumbai-based bank said on Wednesday. http://bit.ly/2uFbRGX
Analysts on average had expected a net loss of 153.8 million rupees, according to Thomson Reuters data.
Gross bad loans as a percentage of total loans fell to 13.05 percent at end-June from 13.22 percent at March-end and 13.38 percent at end-June last year.
Bank of India shares jumped more than 5 percent after the results.
($1 = 63.7350 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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