Bank of India reports 16% fall in Q1 net profit

Bank of India has reported results for first quarter ended June 30, 2014.

The bank’s net profit for the quarter declined by 16.43% at Rs 805.69 crore as compared to Rs 964.18 crore for the quarter ended June 30, 2013. However, the bank’s total income has increased by 16.52% to Rs 11328.73 crore for the quarter under review from Rs 9722.01 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal stood at 3.28%, as compared to 3.04% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 2.14% in Q1FY15