Bank of India profit jumps 63% to Rs 2,374 crore in Sept quarter

New Delhi: Bank of India (BoI) on Monday reported a 63 percent 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.

PSU Watch is now on Whatsapp Channels. Click here to join

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 percent YoY to Rs 5,986 crore for Q2FY25 against Rs 5,740 crore in the year ago period. Non-interest income jumped 49 percent 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 percent 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 percent over previous close on BSE.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)