Shares of Bank of India fell 5.6% to an intraday low of Rs 123.64 apiece on October 26 after the bank's global net interest margin for the September quarter declined to 2.47% from 2.52% sequentially. However, on a year-on-year basis, it improved by 6 basis points.
Meanwhile, the lender's net profit for the reporting quarter grew over 25% on year and 4% sequentially to Rs 3,202 crore. The bank's total income rose more than 16% on-year and 6.5% on-quarter to Rs 23,999 crore. Growth in total income was supported by a strong rise in its interest earned, which rose over 15% on year and 6.4% on quarter to Rs 21,229 crore.
At 1:40 pm on October 26, Bank of India shares were trading 4.5% lower at Rs 125.1 apiece while the Nifty PSU Bank index was trading 0.7% lower.
The core net interest income jumped 18.52% to Rs 7,007 crore from Rs 5,912 crore a year ago on the back of healthy advances growth and slight expansion in the net interest margin.
Non-interest income surged 24.78% to Rs 2,770 crore for Q2 FY27 against Rs 2,220 crore in Q2 FY26, mainly due to sharp growth in profit from exchange transactions and recovery in written-off accounts.