Bank of India Q2 Bank of India has posted over two-fold jump in consolidated net profit to Rs 543.47 crore for the September quarter as bad loans came down. In the earlier year, the bank reported a net profit of Rs 257.31 crore.

Total income rose to Rs 12,477.79 crore in the fiscal second quarter compared to Rs 12,062.55 crore a year ago.

On standalone basis, the net profit in the quarter rose to Rs 525.78 crore as against Rs 266.37 crore a year ago. Income grew to Rs 12,408.66 crore from Rs 11,985.50 crore.

The bank's gross non-performing assets (NPAs) fell to 13.79% of gross advances as on 30 September 2020, from 16.31% a year ago.

In value terms, gross NPAs or bad loans stood at Rs 56,231.76 crore as against Rs 61,475.60 crore in the earlier year.

Net NPAs fell 2.89% (Rs 10,443.71 crore) from 5.87% (Rs 19,645.83 crore).

However, provisions for bad loans increased to Rs 2,133.87 crore during the quarter, from Rs 1,452.09 crore in the earlier year.

Overall provisions and contingencies also rose to Rs 2,312.29 crore in the quarter under review from Rs 2,052.27 crore a year ago.