Bank Of India Q2 Results: Profit Up 63% To Rs 2,374 Crore

Bank of India on Monday reported a 63% jump in net profit to Rs 2,374 crore for the second quarter ended on Sept. 30, 2024, on higher non-interest income. The public sector bank had a net profit of Rs 1,458 crore in the quarter ended in September 2023.

Total income increased to Rs 19,872 crore in the July-September quarter of current fiscal, from Rs 16,659 crore in the corresponding quarter of previous fiscal.

Net interest income (NII) increased by 4% to Rs 5,986 crore for the second quarter, against Rs 5,740 crore in the year ago period. Non-interest income jumped 49% to Rs 2,518 crore during the quarter under review, against Rs 1,688 crore in the corresponding quarter of the previous fiscal.

Net non performing assets declined by 29% from Rs 7,978 crore to Rs 5,649 crore in July-September 2024.

Bank of India shares closed at Rs 112.25, up 0.63% over previous close on BSE, compared to a flat Sensex.