Shares of Bank of India surged higher in trade as in-line net profits and improved asset quality boosted sentiment.
The bank reported a net profit of Rs 622 crore for the quarter ended September 2013, up 10.5 per cent, as against a net profit of Rs 302 crore in the same quarter last fiscal.
Net interest income increased 15 per cent to Rs 2,527.2 crore against Rs 2,196 crore in year-ago period.
The bank surprised the street on asset quality front. Its gross NPAs stood at 2.93 per cent vs 3.04 per cent, Q-o-Q and net NPAs at 1.85 per cent vs 2.10 per cent, Q-o-Q.
The bank reported treasury hit of Rs 647.8 crore, of which Rs 466 crore was booked in second quarter.
At 2.12 p.m.; the stock was at Rs 202.35, up 29.05 per cent, on the BSE. It touched a high of Rs 202.20 and a low of Rs 173.85 in trade today.
The bank reported a net profit of Rs 622 crore for the quarter ended September 2013, up 10.5 per cent, as against a net profit of Rs 302 crore in the same quarter last fiscal.
Net interest income increased 15 per cent to Rs 2,527.2 crore against Rs 2,196 crore in year-ago period.
The bank surprised the street on asset quality front. Its gross NPAs stood at 2.93 per cent vs 3.04 per cent, Q-o-Q and net NPAs at 1.85 per cent vs 2.10 per cent, Q-o-Q.
The bank reported treasury hit of Rs 647.8 crore, of which Rs 466 crore was booked in second quarter.
At 2.12 p.m.; the stock was at Rs 202.35, up 29.05 per cent, on the BSE. It touched a high of Rs 202.20 and a low of Rs 173.85 in trade today.
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