Bank of India (BoI) on Tuesday reported a standalone net profit of Rs 95 crore for the June quarter, up 8% year-on-year (y-o-y) on the back of a tax write-back of Rs 790 crore. Net interest income (NII) \u2014 the difference between interest earned and interest expended \u2014 rose 32.41% y-o-y to `3,354 crore, while the net interest margin (NIM), a key profitability ratio, stood at 2.49% in Q1, up 84 basis points (bps) on a sequential basis. Dinabandhu Mohapatra, MD & CEO, attributed the rise in profit to higher interest income, recovery from Bhushan Steel and reduction in costs. \u201cThis quarter we have done well and have come back to black,\u201d Mohapatra said. Asset quality at the bank deteriorated, with the gross non-performing asset (NPA) ratio rising to 16.66% from 16.58% at the end of March, and the net NPA ratio climbing to 8.45% from 8.26% a quarter ago. Provisions rose 14% y-o-y to Rs 2,564 crore. Provision coverage ratio improved to 66.67% from 65.86% at the end of March. \u201cOur NPAs have stabilised to a great extent and it would significantly come down in the second quarter,\u201d Mohapatra added. The bank\u2019s domestic advances rose 3.6% y-o-y to `2.92 lakh crore. The overseas advances, however, decreased 34% y-o-y to `72,059 crore at the end of June 2018 on the back of the bank\u2019s ongoing plan to rationalise overseas operation and the impact of regulatory restrictions on buyer\u2019s credit. BoI saw total deposits drop 5.36% on a y-o-y basis to Rs 5.14 lakh crore. Current account savings accounts (CASA) deposits grew 3.4% to Rs 1.7 lakh crore. The share of CASA deposits in total domestic deposits rose to 41.76% at the end of June. Slippages fell 49% on a sequential basis to Rs 6,671 crore in Q1FY19. Recoveries during the quarter stood at Rs 2,699 crore, upgradations at Rs 1,774 crore and write-offs at Rs 3,922 crore.