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Bank of India swings from loss to profit in Q1, bad loans fall

The Mumbai-based bank net profit was Rs 87.71 crore in the quarter ended June 30

Reuters 

Bank of India, BOI
Bank of India

(BOI), the country's sixth biggest lender by assets, reported a first-quarter profit as its bad loan ratio narrowed and loan-loss provisions fell.

Net profit was Rs 87.71 crore in the quarter ended June 30, compared with a loss of Rs 741 crore a year earlier, the Mumbai-based bank said on Wednesday.

Analysts on average had expected a net loss of Rs 15.38 crore, according to Thomson Reuters data.

Gross as a percentage of total loans fell to 13.05% at end-June from 13.22% at March-end and 13.38% at end-June last year.

shares jumped more than 5% after the

($1 = Rs 63.7350)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 13:40 IST
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