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Oriental Bank of Commerce Q2 profit dips 16.8 per cent to Rs 251 crore

Oct 30 2013, 13:46 IST
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Total income of Oriental Bank of Commerce (OBC) rose to Rs 4987.71 crore during the second quarter. Total income of Oriental Bank of Commerce (OBC) rose to Rs 4987.71 crore during the second quarter.
SummaryOBC's total income of the bank rose to Rs 4987.71 crore during the second quarter.

State-run Oriental Bank of Commerce (OBC) today reported a 16.80 per cent decline in net profit at Rs 251.41 crore for the second quarter ended September 2013.

The bank had a net profit of Rs 302.19 crore in the July-September quarter of 2012-13.

Total income of the bank rose to Rs 4987.71 crore during the second quarter, from Rs 4,821.37 crore in the corresponding period a year ago, OBC said in a filing to the BSE.

It further said the government would infuse Rs 150 crore into the bank as equity capital.

"The board... has approved the proposal regarding raising of capital by way of preferential allotment of equity shares in favour of Government of India amounting to Rs 150 crore," it added.

Gross NPAs have gone up to 3.77 per cent at the end of the quarter, against 2.92 per cent at the end of September 2012.

Shares of OBC were trading at Rs 156.75, down 1.91 per cent in the afternoon trade on the BSE.

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