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  1. Bank of India profit jumps 63% to ₹2,374 crore in September quarter

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Bank of India profit jumps 63% to ₹2,374 crore in September quarter

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1 min read | Updated on November 11, 2024, 19:07 IST

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SUMMARY

Bank of India (BoI) reported a 63% year-on-year rise in net profit, reaching ₹2,374 crore for the quarter ending September 30, 2024. This growth was driven by a significant 49% jump in non-interest income, which totaled ₹2,518 crore.

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Bank of India shares closed at ₹112.25, up 0.63% over previous close on BSE.

Bank of India shares closed at ₹112.25, up 0.63% over previous close on BSE.

Bank of India (BoI) on Monday reported a 63% jump in net profit to ₹2,374 crore for the second quarter ended on September 30, 2024, on higher non-interest income.

The public sector bank had a net profit of ₹1,458 crore in the quarter ended in September 2023.

Total income increased to ₹19,872 crore in the July-September quarter of the current fiscal, from ₹16,659 crore in the corresponding quarter of previous fiscal.

Net interest income (NII) increased by 4% YoY to ₹5,986 crore for Q2FY25 against ₹5,740 crore in the year ago period. Non-interest income jumped 49% YoY to ₹2,518 crore during the quarter under review, against ₹1,688 crore in the corresponding quarter of the previous fiscal.

Net non performing assets (NPA) declined by 29% YoY from ₹7,978 crore in September 2023 to ₹5,649 crore in September 2024.

Bank of India shares closed at ₹112.25, up 0.63% over previous close on BSE.

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Press Trust of India (PTI) is India's premier news agency.

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