Bank of India (BoI), a state-owned commercial bank, on Wednesday reported a fall of 16.44% in its net profit for the quarter ended Jun. 30, 2014.
The bank earned a profit of Rs 8.06 billion for the quarter ended Jun. 30, 2014. Analysts on average had predicted net profit of Rs 7.01 billion.
The bank's quarterly income totaled at Rs 113.29 billion, an increase of 16.53% over Rs 97.22 billion in the same period a year ago.
The bank has made provision of Rs 8.93 billion, which was higher by 28.58% from prior year period.
Net NPA was at 80.42 billion for the quarter ended Jun. 30, 2014, as compared to Rs 64.09 billion in the same period last year, representing an increase of 25.48%.
In percentage term, net NPAs were at 2.14% at the end of the quarter, Jun. 30, 2014, higher by 2.10% from last year period.
Capital adequacy ratio (CAR) under Basel III of the bank was at 9.98% as on Jun. 30, 2014.
