Shares of Bank of India today ended over one per cent lower after the company reported a massive net loss of Rs 1,126 crore for the quarter ended September 30.
After falling 4.83 per cent to Rs 127 intra-day, the stock recovered some of the lost ground and ended 1.01 per cent down at Rs 132.10 on BSE.
On NSE, shares of the company lost 1.23 per cent to close at Rs 131.90.
State-run Bank of India yesterday reported a massive net loss of Rs 1,126 crore for the September quarter as against a net profit of Rs 786 crore in the year-ago period, as its bad loans more than doubled to 7.55 per cent which pushed up its provisions more than trebled.
The lender's gross non-performing assets more than doubled to 7.55 per cent of total loans from 3.54 per cent in the same period last fiscal, while net NPAs nearly doubled to 4.31 per cent from 2.32 per cent in the year-ago period.
Similarly, the bank saw more and more assets turning bad during the quarter with fresh slippages more than doubling to Rs 6,251 crore from Rs 2,971 crore in the year-ago period.
Net interest income stood at Rs 3,020 crore, and other income stood at Rs 778 crore during the period under review.
