Bank of India soars on better-than-expected Q3 earnings

BSE 23 May 12 | 12:00 AM

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NSE 23 May 12 | 12:00 AM

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Bank of India soars on better-than-expected Q3 earnings

SI Reporter / Mumbai 27 Jan 12 | 01:54 PM

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Bank of India has soared 7% to Rs 366 after reporting better-than-expected 10% year-on-year (y-o-y) growth in net profit at Rs 716 crore for the quarter ended December compared to Rs 653 crore in a year ago quarter. Analyst expected a net profit of Rs 623 crore from the state-owned bank.

Net interest income (NII) rose to Rs 2,068 crore against Rs 1,987 crore on y-o-y basis, the bank said in a filing to the stock exchanges.

As many as a combined 4.14 million shares have changed hands on the counter so far, against an average around one million shares that were traded daily in past ten trading days on the NSE and BSE.