Oriental Bank of Commerce’s Q1 net tumbles 61%

Oriental Bank of Commerce has reported results for first quarter ended June 30, 2016.

The bank has reported 60.95% fall in its net profit at Rs 100.69 crore for the quarter ended June 30, 2016 as compared to Rs 257.84 crore for the same quarter in the previous year. Total income of the bank decreased by 3.16% to Rs 5392.70 crore for the quarter under review from Rs 5568.78 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 11.45%, as compared to 5.85% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 8.11% in Q1FY17.