State-run Bank of India on Thursday reported a drop of 26.3 per cent in net profit to Rs. 557.51 crore for the quarter ended March 31.
The bank’s net profit in the corresponding period stood at Rs. 756.57 crore.
The total income, however, increased to Rs. 11,274.09 crore during January-March quarter of FY’14 from Rs. 9,265.55 crore in the same quarter FY’13, Bank of India said in a release.
For the entire fiscal ended March 2014, the Net Interest Income improved to Rs. 10,831 crore from Rs. 9,024 crore in the year-ago period.
The bank’s net profit for FY’14 fell to Rs. 2,729.27 crore from Rs. 2,749.35 crore for FY’13. The total income increased to Rs. 42,201.94 crore from Rs. 35,674.96 crore earlier.
On a consolidated basis, the bank reported a net profit of Rs. 2,986.78 crore for the year ended March 31, 2014 as compared to Rs. 2,819.90 crore earlier.
The bank’s consolidated income increased from Rs. 35,880.43 crore for FY’13 to Rs. 42,444.18 crore for FY’14.
The lender’s shares were trading 1.63 per cent down to Rs. 268.25 apiece during trade on the BSE.