Bank of India's Q1 profit declines 22% to Rs 561 cr as provisions rise

Fall in non-interest income, rise in bad loan provisions drag down company's net

Q1 results

Illustration: Ajay Mohanty

Abhijit Lele Mumbai
Bank of India's net profit declined 22.08 per cent year-on-year (YoY) to Rs 561 crore in the first quarter of financial year 2022-23 (Q1FY23) on fall in non-interest income and rise in provisions for bad loans.

The Mumbai-based public sector lender had posted a net profit of Rs 720 crore during the year-ago period (Q1FY22).

The bank’s stock closed 2.65 per cent higher at Rs 50.4 per share on BSE on Tuesday.

First Published: Aug 02 2022 | 4:41 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to