Bank of India Q2 net down 38.5%; stock ends lower

Bank of India reported a 38.53% drop in its second quarter net profit at Rs 301.85 crore against Rs 491.11 crore in the corresponding period of previous year.

Shares of the company ended lower by 2.46% at Rs 279 on BSE at 3.40 pm IST, after touching an intraday low of Rs 269.

The company's total income rose to Rs 8,899 crore from Rs 7,728 crore in the corresponding period of previous year. Its net interest income increased to 15.34% to Rs 2,196 crore against Rs 1,903 crore in Q2 of FY 12.

The bank's non performing assets(NPA) rose by 3.42% against 2.56% in previous quarter. Net NPAs stood at 2.04% as against 1.98% in the corresponding period of previous year.

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