OBC gains 2% on posting profit in June quarter

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Shares of Oriental Bank of Commerce (OBC) gained 2.5 percent intraday July 22 after company posted profit in the quarter ended June 2019 (Q1FY20). The company reported profit of Rs 112.7 crore against loss of Rs 393.2 crore in a year ago period.

Its gross NPA stood at 12.56% against 12.66%, while net NPA was at 5.91% versus 5.93%, QoQ.

The net interest income of the company was up 2.6 percent at Rs 1,371.6 crore against Rs 1,337.3 crore.

Provisions for the quarter stood at Rs 842.4 crore versus Rs 1,051.5 crore, QoQ; and versus Rs 1,539.5 crore, YoY.

At 14:04 hrs Oriental Bank of Commerce was quoting at Rs 82.65, up Rs 0.65, or 0.79 percent on the BSE.