State-owned Oriental Bank of Commerce on Thursday reported 41 per cent growth in net profit at Rs 363 crore for the first quarter ended June 30, against Rs 257 crore in the same quarter last year, on the back of healthy growth in interest income of 118 per cent.
The bank posted net profit of Rs 257 crore in the corresponding period last year.
During the quarter, net interest income increased by 118 per cent to Rs 1,057 crore compared to Rs 573 crore. At the same time, net interest margin rose to 3.34 per cent against 1.83 per cent last year.