Bank of India Q3 results: net profit rose 35%, NII grows 11.1% to Rs 6,070 crore

Public sector lender, Bank of India declares its financial results of Q3 FY25, with net profit rising 35% year-on-year to Rs 2,517 crore, compared to Rs 1,870 crore in Q3 FY24. Sequentially, the bank's net profit saw a 6% increase from Rs 2,374 crore in Q2 FY25.

Operating profit also showed a solid 23% YoY growth, reaching Rs 3,703 crore, though it was lower than the Rs 4,147 crore reported in Q2 FY25. Net Interest Income (NII) for the quarter grew 11% YoY to Rs 6,070 crore, compared to Rs 5,463 crore in Q3 FY24, and was slightly higher than Rs 5,986 crore in the previous quarter.

NII surged 46% YoY to Rs 1,746 crore, though it was lower than Rs 2,518 crore in Q2 FY25. Operating expenses for Q3 FY25 stood at Rs 4,114 crore, up from Rs 3,653 crore in Q3 FY24, but down sequentially from Rs 4,355 crore in Q2 FY25.

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For the nine months ended FY25, Bank of India reported a 35% YoY increase in net profit, amounting to Rs 6,593 crore, compared to Rs 4,879 crore in the same period last year. Operating profit of 9 months improved by 10% YoY to Rs 11,527 crore, while NII grew by 7% YoY to Rs 18,331 crore.

Non-interest income also rose by 28% YoY to Rs 5,566 crore. The bank’s operating expenses for the nine months stood at Rs 12,370 crore, higher than Rs 10,949 crore in the corresponding period last year. The bank's Slippage Ratio stood at a low of 0.19%, down from 0.26% in Q3 FY24, highlighting improved asset quality.

Credit Cost also showed improvement, declining to 0.39% from 0.46% in the same quarter last year. The Yield on Advances rose by 18 bps YoY to 8.55%, compared to 8.37% in Q3 FY24, while the Cost of Deposits increased marginally to 4.96% from 4.62% in Q3 FY24.

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