Bank of India falls despite reporting 11% rise in Q4 consolidated net profit

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Bank Of India is currently trading at Rs. 124.95, down by 13.90 points or 10.01% from its previous closing of Rs. 138.85 on the BSE.

The scrip opened at Rs. 128.00 and has touched a high and low of Rs. 130.80 and Rs. 121.70 respectively. So far 4569785 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 158.00 on 30-Apr-2024 and a 52 week low of Rs. 69.41 on 26-Jun-2023.

Last one week high and low of the scrip stood at Rs. 150.90 and Rs. 121.70 respectively. The current market cap of the company is Rs. 56316.50 crore.

The promoters holding in the company stood at 73.38%, while Institutions and Non-Institutions held 20.34% and 6.28% respectively.

Bank of India has reported 6.55% rise in its net profit at Rs 1,438.91 crore for the fourth quarter (Q4) ended March 31, 2024 as compared to Rs 1,350.44 crore for the same quarter in the previous year. Total income of the bank increased by 8.24% at Rs 17,913.03 crore for Q4FY24 as compared Rs 16,548.93 crore for the corresponding quarter previous year.

On consolidated basis, the bank has reported 11.50% rise in its net profit at Rs 1,573.88 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,411.53 crore for the same quarter in the previous year. Total income of the bank increased by 8.16% at Rs 18,080.20 crore for Q4FY24 as compared Rs 16,715.94 crore for the corresponding quarter previous year.

For the year ended March 31, 2024, the bank has reported 57.05% rise in net profit at Rs 6,317.92 crore as compared to Rs 4,022.94 crore for the previous year. Total income of the bank increased by 22.02% at Rs 66,804.34 crore for year under review as compared to Rs 54,747.61 crore for year ended March 31, 2023.

For the year ended March 31, 2024, on the consolidated basis, the bank has reported 71.04% rise in its net profit at Rs 6,564.46 crore as compared to Rs 3,837.96 crore for the previous year. Total income of the bank increased by 22.06% at Rs 67,306.47 crore for year under review as compared to Rs 55,142.86 crore for year ended March 31, 2023.

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