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OBC Q2 Net dips 16.8% to Rs 251 crore

Last Updated: Wednesday, October 30, 2013 - 13:59

New Delhi: State-run Oriental bank of Commerce (OBC) on Wednesday reported a 16.80 percent 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 percent at the end of the quarter, against 2.92 percent at the end of September 2012.

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

First Published: Wednesday, October 30, 2013 - 13:59
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