Oriental Bank of Commerce Q1 net up 10 per cent at Rs 391 cr

Oriental Bank of Commerce (OBC) on Monday reported 10.3 per cent rise in net profit to Rs 391.4 crore for the first quarter ended June 30.

The public sector bank had posted a net profit of Rs 354.7 crore for the first quarter (April-June) of the previous financial year, it said in a filing to the Bombay Stock Exchange.

The total income of the bank increased by 54 per cent to Rs 4,695.5 crore during the first quarter of 2012-13 from Rs 3,045.5 crore in the corresponding year-ago period.

Interest income of the bank rose to Rs 4,287.16 crore during the period under review from Rs 3,596.5 crore in the same quarter of the previous fiscal.

OBC's gross non-performing assets (NPAs) increased to 2.97 per cent during the quarter ended June 30 from 2.07 per cent in the same quarter a year ago, it said.

Shares of the bank were trading 9.22 per cent higher on BSE at Rs 232.75 in late afternoon trade on Monday.

With inputs from PTI