BoI posts two-fold jump in Q2 net at Rs 622 cr

Mumbai: Bank of India (BoI) today reported two-fold jump in net profit at Rs 621.77 crore for the July-September quarter.

The bank had posted a net profit of Rs 301.85 crore in the same period of last fiscal, 2012-13.

The total income in the second quarter of 2013-14 increased to Rs 10,339.55 crore from Rs 8,899.55 crore in the year-ago period, BOI said in a filing with the BSE.

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During the first half of the current fiscal, the bank's net profit also rose by 33 per cent at Rs 1,585.95 crore as against Rs 1,189.30 crore in the first half of 2012-13.

The bank's total income rose to Rs 20,061.56 crore in the first six months, from Rs 17,499.58 crore in the year-ago period.

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As of September 30, 2013, BoI's portfolio quality improved with gross non-performing assets (NPAs) declining to 2.93 per cent of gross advances, as against 3.42 per cent in the year-ago period.

It's net non-performing assets during the second quarter of 2013-14 rose from 1.85 per cent to 2.04 per cent.

PTI