Public sector lender Bank of India (BOI) has reported a whopping 93%Year-on-Year jump in its fourth quarter (Jan-March) net profit at Rs 953 crore, driven by higher interest income and lower operating expenses.
Net interest income or the difference between interest earned and paid out rose 21% sequentially to Rs 2501 crore. However, net profit increased at a slower pace by 7.6% to Rs 2678 crore for fiscal year ending March 31, 2012.
The bank's global loan book expanded more then 16% to Rs 2.49 lakh crore, while deposits grew at a muted pace nearly 6.5% to 3.18 lakh crore.
Post the result announcement, BOI stock rose 5% to Rs 352.25.
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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