Bank of India slips 6% on weak Q1 nos, stock tanks 27% in 2019 so far

The bank's GNPA ratio deteriorated sequentially. It came in at 16.5 per cent, up from 15.84 per cent clocked in Q4FY19

Bank of India shares hit a 52-week low of Rs 70.55 apeice, slipping as much as 6.74 per cent in the intra-day trade on the BSE on Tuesday, after the bank's June quarter result for 2019-20 (Q1FY20) showed a weakened asset quality.

The public sector lender reported a net profit of Rs 242.6 crore, which was below most analysts' expectations. For instance, analysts at Prabhudas Lilladher had estimated the profit to come in at Rs 389.4 crore. It had posted a profit of Rs 95.1 crore in Q1FY19 and Rs 251.8 crore in the March quarter of fiscal year 2018-19 (Q4FY19).

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