Public sector lender Bank of India (BoI) has reported a fall of 20.38% in net profit at Rs 491.11 crore for the second quarter ended September 30, 2011, due to higher provisioning.
The bank had posted a net profit of Rs 616.78 crore for the July-September quarter of 2010.
The total income of the lender during the quarter rose to Rs 7,728.16 crore from Rs 5,740.05 crore in the corresponding period of the previous fiscal, BoI said today in a filing to the BSE.
During the first six months of the current fiscal, the bank's net profit dropped by 23.84% to Rs 1,008.64 crore from Rs 1,341.91 crore in the same period of FY2010-11, it said.
The bank's total income during the April-September, 2011 period rose to Rs 15,021.84 crore from Rs 11,147.67 crore during the same period of last fiscal, it added.
Shares of the bank were trading down by 3.93% at Rs 327.80 in late afternoon trade on the BSE.