BoI Q4 results: Net up 7% on strong retail, farm loans
Net profit increased to ₹1,439 crore in the quarter ended March 2024 from ₹1,350 ₹crore a year earlier despite a 15% fall in operating profit.
(BoI)'s increased 7% year on year, pressured by lower even as growth in and remained strong.Net profit increased to ₹1,439 crore in the quarter ended March 2024 from ₹1,350 ₹crore a year earlier despite a 15% fall in .
Total advances increased by 14% to ₹5.15 lakh crore led by a 16% growth in retail, agriculture and .
Other income fell 43% to ₹1,751 crore in March 2024 from ₹3,099 crore because unlike last year the bank did not book gains from the sale of security receipts.
If not for the 63% fall in year on year, the bank's net profit also would have fallen.
said the tax expenses fell as the bank moved to a new tax regime last fiscal. Total tax expenses fell to ₹292 crore from ₹783 crore a year earlier. (NIM) or the difference between yield on advances and cost of deposits fell to 2.92% in March 2024 from 3.15% in a year earlier.
Source: Stocks-Markets-Economic Times
