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Bank of India: Improving performance

Feb 12, 2004

Bank of India (BoI), the second largest public sector bank in the country, recently announced its December quarter results, reporting a 16% YoY rise in net profits, while its topline grew by a marginal 1%. While topline growth was subdued, bottomline grew significantly due to fall in interest expenses as well as control on operating costs. Operating margins have improved by nearly 480 basis points due to the fall in interest expenses. Other income in this period, however, fell marginally.

Rs m 3QFY03 3QFY04 Change
Income from operations 14,683 14,832 1.0%
Other income 3,795 3,789 -0.2%
Interest expenses 9,635 8,875 -7.9%
Net interest income 5,048 5,957 18.0%
Other expenses 4,172 4,361 4.5%
Operating profit 875 1,596 82.3%
Operating profit margin (%) 6.0% 10.8%  
Provisions and contingencies 1,913 2,015 5.3%
Profit before tax 2,757 3,370 22.2%
Tax 789 1,084 37.5%
Profit after tax/(loss) 1,969 2,285 16.1%
Net profit margin (%) 13.4% 15.4%  
No. of shares (m) 488.1 488.1  
Diluted earnings per share* 16.1 18.7  
P/E ratio (x)   3.7  

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Dec 8, 2021 11:45 AM


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