Oriental Bank of Commerce (OBC) has posted a net profit of Rs 112.7 crore on the back of better asset quality and less provisions. The company had posted a loss of Rs 393.2 crore in the year ago period.
Gross NPA stood at 12.56 percent as against 12.66 percent. Net NPA stood at 5.91 percent versus 5.93 percent QoQ.
Net interest income was up 2.6 percent at Rs 1,371.6 crore.
Provisions for the quarter under review stood at Rs 842.4 crore versus Rs 1,051.5 crore QoQ and Rs 1,539.5 crore YoY.
At 13:57 hours, the OBC stock was quoting at Rs 82.75, up Rs 0.75, or 0.91 percent on the BSE.
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