Bank of India beats expectations; markets cheer results

Bank of India has posted a decent set of numbers with net profit coming in at Rs 9527.30 million for the quarter ended March 31, 2012 as compared to Rs. 4936.40 million for the quarter ended March 31, 2011.

Total Income has increased from Rs. 71300.70 million for the quarter ended March 31, 2011 to Rs. 87777.30 million for the quarter ended March 31, 2012.

The audited results for the year ended March 31, 2012, show a net profit of Rs. 26775.20 million for the year ended March 31, 2012 as compared to Rs. 24887.10 million for the year ended March 31, 2011. Total Income has increased from Rs. 243935.00 million for the year ended March 31, 2011 to Rs. 318018.40 million for the year ended March 31, 2012

The company's board has declared a dividend of Rs 7 per share. Shares of the company were up more than 4% on the BSE.

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