Bank of India, a state-owned commercial bank, fourth quarter profits declined 26.31% from a year ago. The bank reported a profit of Rs 5.58 billion for the quarter ended Mar. 31, 2014, compared with Rs 7.57 billion, a year ago. Market was expecting profit to come at Rs 7.03 billion.
 
Quarterly income totaled at Rs 112.74 billion, an increase of 21.68% over Rs 92.65 billion in the same period a year ago.
 
The bank has made provision of Rs 15.47 billion, which was higher by 2.43% from prior year period.
 
Net NPA was at 74.17 billion for the quarter ended Mar. 31, 2014, as compared to Rs 59.47 billion in the same period last year, representing a increase of 24.72%
 
In percentage term, net NPAs were at 2% at the end of the quarter lower than 2.06% from last year period.
 
Capital adequacy ratio (CAR) of the bank under Basel III was at 9.97% as on Mar. 31, 2014.

Shares of the bank declined Rs 9.7, or 3.56%, to trade at Rs 263. The total volume of shares traded was 1,952,097 at the BSE (12.35 p.m., Thursday).