Bank of India Q2 results: Net profit surges 52% to ₹1,458 crore; NII up 13%
Bank of India on November 4 reported a standalone net profit of ₹1,458 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which is higher by 52 percent as against ₹960 crore reported in the year-ago period. Sequentially, the net profit dropped by 6 percent from ₹1,551 crore reported in the quarter ending June 2023.
The public sector lender's net interest income (NII) stood at ₹5,740 crore in Q2FY24, improving by 13 percent as against ₹5,083 crore reported in the same quarter of the previous fiscal. The non-interest income increased by 19 percent on-year to ₹1,688 crore from ₹1,417 crore in Q2FY23.
The bank's operating profit during the second quarter came in at ₹3,756 crore, higher by 11 percent from ₹3,374 crore in the year-ago period. (This is a developing story. Please check back for more updates)Milestone Alert!
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