Bank of India Q3 rises 10% to Rs 716 cr

Bank of India reported a 9.6% increase in net profit at Rs 716.1 crore for the quarter ended December 2011 as against Rs 653.1 crore in the same period a year ago.

Total income rose 31% to Rs 8,002.2 crore from Rs 6,115.7 crore in December 2010.

Going forward, Bank of India sees subdued growth on corporate loans, while rising debt restructuring by corporates is exerting stress on the bank's assets, executive director N Seshadri said on Friday.

He said stress is evident in the loans given to textile, aviation, steel and power sectors.

The bank's scrip was trading at Rs 356, up 4.3%, on Bombay Stock Exchange at 1350 hours.

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