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Bank of India shares end nearly 4% up after Q1 earnings

Press Trust of India  |  New Delhi 

of of (BOI) today rose by nearly 4 per cent after the company swung into black by registering a standalone net profit of Rs 87.71 crore for the first quarter ended June.

The stock gained 3.77 per cent to settle at Rs 158.45 on During the day, it soared 7 per cent to Rs 163.40.

On NSE, it jumped 3.86 per cent to close at Rs 158.45.

In terms of equity volume, 20.82 lakh of the company were traded on and over 2 crore changed hands at during the day.

The had reported a net loss of Rs 741.36 crore in the April-June quarter of previous fiscal due to bad assets and higher provisioning to cover it.

The improved on its asset front with gross non- performing assets falling to 13.05 per cent of the gross advances as on June 30, 2017 from 13.38 per cent at the end- June 2016.

Net NPAs or bad loans also fell to 6.70 per cent of the net advances by June end this year, as against 7.78 per cent a year ago.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 16:42 IST