 "OBC Q2 Net dips 16.8% to Rs 251 cr")
State-run Oriental bank of Commerce (OBC) today reported a 16.80% decline in net profit at Rs 251.41 crore for the second quarter ended September 2013.
The bank had a net profit of Rs 302.19 crore in the July- September quarter of 2012-13.
Total income of the bank rose to Rs 4987.71 crore during the second quarter, from Rs 4,821.37 crore in the corresponding period a year ago, OBC said in a filing to the BSE.
Also Read
It further said the government would infuse Rs 150 crore into the bank as equity capital.
"The board has approved the proposal regarding raising of capital by way of preferential allotment of equity shares in favour of Government of India amounting to Rs 150 crore," it added.
Gross NPAs have gone up to 3.77% at the end of the quarter, against 2.92% at the end of September 2012.
Shares of OBC were trading at Rs 156.75, down 1.91% in the afternoon trade on the BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%