Bank of India (BoI) has posted a 15 per cent rise in net profit at Rs 203.92 crore during the the first quarter ended June 30, 2003, compared with Rs 177.15 crore in the corresponding quarter last fiscal.
Interest earnings of the bank edged up marginally by two per cent at Rs 1,438.18 crore (Rs 1412.17 crore), while other income grew by 16.50 per cent to Rs 333.64 crore (Rs 286.38 crore).
A break-up of the interest earned shows that interest/ discount on advances/bills came down by four per cent to Rs 838.40 crore (Rs 871.70 crore).
Income from investments grew marginally to Rs 478.63 crore (Rs 480.03 crore), while interest on balances with the RBI & other interbank funds stood at Rs 86.05 crore (Rs 60.31 crore).
During the quarter, interest expenses of the bank declined by four per cent to Rs 904.09 crore (Rs 942.87 crore), while operating expenses increased by Rs 414.81 crore (Rs 376.20 crore).
In the reporting quarter, the bank
