Bank of India reported standalone second quarter net profit declined 8.65% to ₹960 crore from ₹1,051 crore in the year-earlier period.
Operating profit, however, improved 26% year-on-year to ₹3,374 crore. Net interest income rose 44% to ₹5,083 crore. Gross NPA ratio at 8.51% was a decline of 349 bps. Net NPA ratio at 1.92% was down by 87 bps.
“Gross NPA declined by 5.4% q-o-q from ₹44,415 crore in June 22 to ₹42,014 crore in September 22. Net NPA declined by 9.61% q-o-q from ₹9,775 crore in June 22 to ₹8,836 crore in September 22,” the lender said in a filing. Provision Coverage Ratio (PCR) stood at 88.96% in September 22 against 87.96% in June22,” it added.
