State-owned Bank of India (BoI) on Friday (February 2) reported a 62.4% year-on-year (YoY) jump in net profit at ₹1,869.5 crore for the third quarter that ended December 31, 2023. In the corresponding quarter last year, Bank of India posted a net profit of ₹1,151 crore, the bank said in a regulatory filing.
Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, dipped 2.4%, coming at ₹5,463.5 crore against ₹5,595.1 crore in the corresponding quarter of FY23.
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The gross non-performing assets (GNPAs) stood at 5.35% in the December quarter against 5.84% in the September quarter. Net NPAs came at 1.54% against 1.41% quarter-on-quarter. In monetary terms, gross NPA stood at ₹30,237.2 crore against ₹31,718.8 crore quarter-on-quarter, whereas net NPA came at ₹7,627.2 crore against ₹7,978.3 crore quarter-on-quarter.
The results came after the close of the market hours. Shares of Bank of India ended at ₹151.60, up by ₹6.20, or 4.26%, on the BSE.
