Bank of India, a state-run lender, announced its June quarter results today, July 29, post-market hours, reporting a net profit of ₹2,252 crore, a 32% increase compared to ₹1,703 crore in the year-ago quarter.

The growth was largely driven by a sharp rise in non-interest income, which surged 66.4% to ₹2,166 crore. Despite a 11.24% jump in domestic advances to ₹5,65,297 crore during the reporting quarter, net interest income came in lower at ₹6,068 crore, down 3% from ₹6,275 crore in the same quarter of the previous fiscal.

The bank’s Net Interest Margin (NIM) declined to 2.55% from 3.07% a year ago, reflecting margin pressure due to lower yields on advances and funds. 

Its operating profit for the quarter stood at ₹4,009 crore, a 9% increase from ₹3,677 crore, while provisions declined to ₹14,690 crore from ₹22,014 crore in Q1 FY25.

Its gross NPA ratio improved to 2.92% from 4.62% last year and 3.27% in the preceding March quarter, while the Net NPA ratio stood at 0.75%, improving from 0.99% in June 2024 and 0.82% in March 2025.

Provision coverage strengthened to 92.94%, higher than 92.11% a year ago and 92.39% in March 2025. The slippage ratio remained stable at 0.33%, compared to 0.35% in June 2024 and 0.32% in March 2025. Additionally, the credit cost eased to 0.68% from 0.85% a year earlier and 0.84% in the previous quarter.