Bank of India Q2 results: Bank of India Q2 results: Net profit soars nearly 100% to Rs 1,051 cr

New Delhi: State-run on Tuesday reported practically 100 per cent soar in its internet revenue at Rs 1,051 crore in quarter ended September 2021. The financial institution had posted internet revenue of Rs 526 crore in the identical interval a yr in the past.

“Web revenue for Q2FY22 stood at Rs 1,051 crore, up by 99.89 per cent year-on-year,” the financial institution stated in a regulatory submitting.

On a sequential foundation, internet revenue improved by 45.97 per cent from Rs 720 crore.

Web curiosity revenue (NII) stood at Rs 3,523 crore for the quarter Q2FY22. On a sequential foundation, it elevated by 12.06 per cent from Rs 3,144 crore in quarter ended June 2021, the financial institution stated.

Non-interest revenue elevated by 58.71 per cent from a yr in the past to Rs 2,136 crore for Q2FY22 towards Rs 1,346 crore in Q2FY21.

On the asset entrance, the financial institution improved the standard because the gross non-performing belongings (NPAs) have been down at 12 per cent of the gross advances at finish of September 2021 from 13.79 per cent by finish of identical month a yr in the past.

Web NPAs too fell to 2.79 per cent from 2.89 per cent.

Financial institution of India inventory traded at Rs 62.25 apiece on BSE, up 3.06 per cent from the earlier shut.