 "Bank of India shares rally 6% after robust profit growth in Q3; details")
Bank of India share jumped 5.79 per cent at Rs 104 a piece on the BSE in Monday’s intraday trade. This came after the public sector bank reported robust growth in the third quarter of the financial year 2024-25 (Q3FY25), with net profit increasing by 35 per cent year-on-year to Rs 2,517 crore, compared to Rs 1,870 crore in Q3 FY24.
Sequentially, the bank's net profit rose by 6 per cent from Rs 2,374 crore in Q2FY25. Operating profit exhibited a strong 23 per cent Y-o-Y growth, reaching Rs 3,703 crore, although it was lower than Rs 4,147 crore in the preceding quarter.
The Net Interest Income (NII) for the quarter grew 11 per cent Y-o-Y to Rs 6,070 crore, up from Rs 5,463 crore in Q3 FY24, and marginally higher than Rs 5,986 crore in Q2FY25. Additionally, NII increased by 46 per cent Y-o-Y to Rs 1,746 crore, though it was lower than the Rs 2,518 crore recorded in Q2FY25.
Operating expenses during Q3 FY25 were reported at Rs 4,114 crore, rising from Rs 3,653 crore in Q3FY24 but lower than Rs 4,355 crore in Q2FY25. Also Read: Analysts maintain 'Buy' calls on ICICI Bank after Q3; see up to 32% upside
For the nine months ending FY25, BoI achieved a 35 per cent Y-o-Y increase in net profit, amounting to Rs 6,593 crore compared to Rs 4,879 crore in the same period of the previous fiscal.
Operating profit for this period improved by 10 per cent Y-o-Y to Rs 11,527 crore, while NII advanced by 7 per cent Y-o-Y to Rs 18,331 crore. Non-interest income also saw a substantial 28 per cent Y-o-Y rise, reaching Rs 5,566 crore.
Also Read
The bank demonstrated enhanced asset quality, with its Slippage Ratio declining to 0.19 per cent from 0.26 per cent in Q3 FY24. Credit Cost also improved, falling to 0.39 per cent from 0.46 per cent in the corresponding quarter of the prior year.
Bank of India has a total market capitalisation of Rs 46,892.48 crore. Its shares are listed at a price to earnings multiple of 5.82 and at an earning per share of Rs 17.64.
At 10:00 AM, the stock price of the company rose by 4.22 per cent at Rs 102.45 a piece on the BSE. By comparison, the BSE’s Sensex was down 0.50 per cent to 75,807.83 level.