BoI's Q3 net profit rises 12% YoY to Rs 1,151 cr on improvement in NIM

In a filing with BSE, BoI said its net interest income (NII) was up 64 per cent YoY in Q3 to Rs 5,596 crore

Bank of India's (BoI's) net profit rose by 12 per cent year-on-year (YoY) to Rs 1,151 crore during the quarter ended December (Q3 of FY23) on the back of an improvement in net interest margin (NIM).

The Mumbai-based public sector lender had posted a net profit of Rs 1,027 crore in Q3 of FY22. Sequentially, the net profit was 20 per cent higher in Q3FY23 than in Q2FY23 when the figure stood at Rs 960 crore.

The bank's stock closed 4.55 per cent lower at Rs 93.35 per share on the BSE on Tuesday.

Its total capital adequacy ratio (CAR)