BoI shares down nearly 5% on weak earnings

Shares of Bank of India today plunged nearly 5 per cent after the company reported a massive net loss of Rs 1,126 crore for the quarter ended September 30.
The bank had registered a net profit of Rs 786 crore in the year-ago period.
BoI's scrip fell 4.83 per cent to Rs 127 on BSE.
At NSE, shares of the company declined 4.53 per cent to Rs 127.50.
State-run Bank of India yesterday reported a net loss of Rs 1,126 crore for the July-September quarter, as its bad loans more than doubled to 7.55 per cent which pushed up its provisions more than threefold.

Net NPAs also rose to 4.31 per cent from 2.32 per cent a year ago.
Similarly, the bank saw more and more assets turning bad during the quarter with fresh slippages rising to Rs 6,251 crore from Rs 2,971 crore a year ago.
Net interest income stood at Rs 3,020 crore, and other income stood at Rs 778 crore during the said period.