Corporate

Bank of India Q2 profit halves to Rs 323 cr; shares dip 9%

Public sector lender Bank of India today reported a decline of 57 per cent in net profit to Rs 323.34 crore for the second quarter of current fiscal, over the same period a year earlier. - Corporation Bank net rises 52% to Rs 291 cr - IOB net dips 51% to Rs 176 cr - FII-TO-FII TRADES: BoB traded at 3% premium - Bank of Baroda profit jumps 60% to Rs 634 cr - Andhra Bank profit jumps 70% to Rs 274 cr - FII-TO-FII TRADES: PNB traded at 8% premium However, the bank"s total income grew by 12 per cent to Rs 5,164.96 crore in the latest quarter of the current financial year from Rs 4,612.27 crore of the year ago quarter, Bank of India said in a filing to the Bombay Stock Exchange (BSE). The bank"s earning from interest rose to Rs 4,488.99 crore during the July-September quarter of the financial year 2009-10 from Rs 3,962.77 crore of the last year. For the half year ended September 30, 2009, the state-run lender posted a net profit of Rs 907.66 crore, down 31.4 per cent as compared to Rs 1,324.81 crore of the same period last fiscal. Shares of the bank fell nearly 9 per cent and were trading at Rs 371.75 in the afternoon trade on the BSE.


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