Net interest income, the difference between interest earned and interest expended, shot up 20 percent (better than expectations) to Rs 3,031 crore in the second quarter of current financial year 2014 compared to Rs 2,527 crore in same quarter last year.
Public sector lender Bank of India met street expectations with the profit rising 26.4 percent year-on-year to Rs 786 crore in September quarter led by fall in provisions and higher net interest income. Profit in the year-ago period was Rs 621.77 crore.
Net interest income, the difference between interest earned and interest expended, shot up 20 percent (better than expectations) to Rs 3,031 crore in the second quarter of current financial year 2014 compared to Rs 2,527 crore in same quarter last year but other income (non-interest income) declined by 8.5 percent to Rs 1,006.4 crore during the same period.
Net profit was expected at Rs 786 crore and net interest income at Rs 2,745 crore for the quarter, according to the average of estimates of analysts polled by CNBC-TV18.
Total operating expenses of the bank jumped 24.7 percent to Rs 1,901.6 crore during the quarter from Rs 1,524.5 crore in corresponding quarter of last fiscal on the back of 26.5 percent rise in employee cost and 22 percent increase in other operating expenses.
Provisions and contingencies fell 21.8 percent on yearly basis (up 7.9 percent sequentially) to Rs 963.4 crore in the quarter gone by, with provision coverage ratio at 56.32 percent as on September 2014 (against 63.29 percent in corresponding quarter of last fiscal).
Bank of India's asset quality deteriorated further in second quarter with the gross non-performing assets (NPA) climbing 61 basis points year-on-year (up 26 bps Q-o-Q) to 3.54 percent and net NPA rising 47 bps on yearly basis (up 18 bps Q-o-Q) to 2.32 percent in September quarter.
In absolute term, gross NPA shot up 43 percent year-on-year (up 12.7 percent on sequential basis) to Rs 14,127 crore and net NPA surged 47.8 percent Y-o-Y (up 13.2 percent Q-o-Q) to Rs 9,101 crore during the quarter.
At 12:25 hours IST, the stock was quoting at Rs 286.45, up Rs 1.05, or 0.37 percent on the BSE.
Anda sedang membaca artikel tentang
Bank of India Q2 profit jumps 26.4%, asset quality worsens
Dengan url
https://rokokkanker.blogspot.com/2014/11/bank-of-india-q2-profit-jumps-264-asset.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Bank of India Q2 profit jumps 26.4%, asset quality worsens
namun jangan lupa untuk meletakkan link
Bank of India Q2 profit jumps 26.4%, asset quality worsens
sebagai sumbernya
0 komentar:
Posting Komentar