Bank of India rose 1.40% to Rs 72.30 after the bank reported a net profit of Rs 266.37 crore in Q2 September 2019 as against a net loss of Rs 1,156.25 crore in Q2 September 2018.
Total income rose 10.97% to Rs 11,985.50 crore on a 31.88% increase in net interest income to Rs 3860 crore in Q2 September 2019 over Q2 September 2018.
Gross non-performing assets (NPAs) stood at Rs 61,475.60 crore as on 30 September 2019 as against Rs 62,068.40 crore as on 30 June 2019 and Rs 61,560.65 crore as on 30 September 2018.
The ratio of gross NPAs to gross advances stood at 16.31% as on 30 September 2019 as against 16.50% as on 30 June 2019 and 16.36% as on 30 September 2018.
The ratio of net NPAs to net advances stood at 5.87% as on 30 September 2019 as against 5.79% as on 30 June 2019 and 7.64% as on 30 September 2018.
The bank's provisions and contingencies fell 38.61% to Rs 2052.27 crore in Q2 September 2019 over Q2 September 2018. Of this, provisions for NPAs fell 48.64% to Rs 1452.09 crore in Q2 September 2019 over Q2 September 2018.
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Provision coverage ratio of the bank stood at 77.12% as on 30 September 2019 as against 77.18% as on 30 June 2019 and 69.12% as on 30 September 2018.
Bank of India is a public sector bank. The Government of India held 89.10% stake in the bank as on 30 September 2019.
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