GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Bank of India Q4 Loss Widens to About Rs 4,000 Crore on Bad Loans

In absolute terms, the gross NPAs or bad loans of the Bank reached Rs 62,328.46 crore as on March 31, 2018, sharply up from Rs 52,044.52 crore a year ago.

PTI

Updated:May 28, 2018, 6:37 PM IST
facebookTwittergoogleskypewhatsapp
Bank of India Q4 Loss Widens to About Rs 4,000 Crore on Bad Loans
Image for representation.
Loading...
New Delhi: Bank of India on Monday reported widening of its net loss to Rs 3,969.27 crore in the March quarter due to higher provisioning for mounting bad loans.

It had reported a net loss of Rs 1,045.54 crore for the January-March period of the preceding fiscal, 2016-17.

In the previous quarter, October-December, of 2017-18 the loss was at Rs 2,341.20 crore.

The bank's asset quality worsened as on March 31, 2018. The gross non-performing assets (NPAs) hit 16.58 percent of the gross advances, as against 13.22 per cent by end March 2017, the bank said in a regulatory filing.

Net NPAs rose to 8.26 per cent, as against 6.90 per cent.

In absolute terms, the gross NPAs or bad loans reached Rs 62,328.46 crore as on March 31, 2018, sharply up from Rs 52,044.52 crore a year ago. Net NPAs were Rs 28,207.27 crore, compared with Rs 25,305.05 crore.

Income in the March quarter of 2017-18 also fell to Rs 10,722.07 crore, from Rs 12,335.71 crore a year ago.

Provisions for bad loans for January-March, 2017-18 were increased to Rs 6,699.23 crore from Rs 4,483.53 crore year ago same period.

BoI said: "Due to non availability of profit, no dividend is proposed."

Stock of the bank closed 4.71 per cent higher at Rs 107.85 on BSE on Monday.

Also Watch

Read full article
Loading...
Most Active
Company Price Change %Gain
Sun Pharma 623.50 +3.80 +0.61
Axis Bank 627.30 +3.85 +0.62
ICICI Bank 340.00 +5.70 +1.71
ITC 313.75 +6.30 +2.05
SBI 302.10 +9.40 +3.21
Company Price Change %Gain
RITES 310.00 +25.15 +8.83
Sun Pharma 623.30 +3.70 +0.60
Axis Bank 627.10 +3.25 +0.52
SBI 302.00 +9.30 +3.18
Tata Steel 580.60 +12.50 +2.20
Top Gainers
Company Price Change %Gain
Grasim 1,045.85 +46.40 +4.64
Yes Bank 393.20 +14.75 +3.90
Lupin 881.25 +31.50 +3.71
SBI 302.10 +9.40 +3.21
Vedanta 215.20 +6.40 +3.07
Company Price Change %Gain
Yes Bank 392.95 +14.25 +3.76
SBI 302.00 +9.30 +3.18
Vedanta 215.00 +6.45 +3.09
HUL 1,780.80 +45.60 +2.63
Tata Motors 257.35 +6.20 +2.47
Top Losers
Company Price Change %Gain
GAIL 387.70 -6.10 -1.55
Hero Motocorp 3,242.30 -40.35 -1.23
Eicher Motors 28,476.15 -327.70 -1.14
ONGC 163.05 -1.40 -0.85
Maruti Suzuki 9,152.10 -48.45 -0.53
Company Price Change %Gain
Hero Motocorp 3,248.60 -37.50 -1.14
ONGC 163.10 -1.00 -0.61
Maruti Suzuki 9,148.30 -53.65 -0.58
Coal India 281.20 -1.25 -0.44
HDFC 1,883.60 -7.30 -0.39
Loading...
Loading...