Public sector bank Oriental Bank of Commerce has posted a decline of 13 percent in its net profit to Rs.354.22 crore against Rs.408.25 crore in the corresponding period of the last financial year.
Net Interest income of the bank was surged 10.7% to Rs.1,139.99 crore versus Rs.1,029.9 crore in the same period of the last financial year.
An increase in provisioning amount during the December quarter had deteriorated profit of the bank. Provision was almost doubled to Rs.380.86 crore against Rs.191.75 crore on an annual basis.
Net Performing assets increased by 1.89% to and Gross NPA was at 2.92% during the December ended Quarter.
Shares of Oriental bank of Commerce was declined 3.10% to Rs.250.10 per share on BSE on market close. The scrip has hit an intraday high of Rs.259.90 per share and an intraday low of Rs.248.00 per share in the Mumbai market.
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