Bank of India (BoI) reported a 63% year-on-year jump in its net profit, reaching Rs 2,374 crore for the second quarter ended September 30, 2024, driven by a significant rise in non-interest income. In the same quarter of the previous year, the public sector bank had posted a net profit of Rs 1,458 crore.
Total income for the July-September period of the current fiscal rose to Rs 19,872 crore, up from Rs 16,659 crore in the corresponding period last year. Net non-performing assets (NPA) saw a substantial decline of 29%, falling from Rs 7,978 crore in September 2023 to Rs 5,649 crore in September 2024.
Net interest income (NII) grew by 4% to Rs 5,986 crore for Q2FY25, compared to Rs 5,740 crore in the same quarter last year. Non-interest income also surged by 49% year-on-year, reaching Rs 2,518 crore during the quarter, up from Rs 1,688 crore in the corresponding period of the previous fiscal.
Bank of India’s shares closed at Rs 112.25, up 0.63% from the previous close on the Bombay Stock Exchange (BSE).
