 "Bank of India")
Bank of India on Thursday reported a standalone net loss of Rs 3,571.41 crore for the quarter ended March 31, 2020 due to higher provisions for bad loans.
The bank clocked a profit of Rs 251.79 crore in January-March 2018-19. In December quarter also, there was a profit of Rs 105.52 crore.
"Because of higher provisions on bad debts, from Rs 1,503 crore duringQ4 FY19 to Rs 7,316 crore during Q4 FY20, net profit stood at(-) Rs 3,571 crore as against Rs 252 crore during Q4 FY19," Bank of India said in a release.
Income during March quarter 2019-20 fell
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