OBC net rises 12% at Rs 143.42 cr | india | Hindustan Times
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OBC net rises 12% at Rs 143.42 cr

OBC reports an increase of 12.31% in its net to Rs 143.42 cr for the quarter ended December 31, 2005.

india Updated: Jan 23, 2006 17:01 IST

Oriental Bank of Commerce (OBC) on Monday reported an increase of 12.31 per cent in its net profit to Rs 143.42 crore for the quarter ended December 31, 2005 as compared to Rs 127.70 crore for the same quarter in 2004-05.

However, the bank's net profit before right off of GDP losses stood at Rs 204.66 crore during third quarter of this fiscal against Rs 127.70 crore during 2004-05, Chairman and Managing Director OBC K N Prithiviraj told reporters.

During the first nine months of this fiscal, bank's net profit declined to Rs 352.22 crore against Rs 523.11 crore during the April-December period of 2004-05.

When its right off of GDP losses are not taken into account, the bank's net profit rose to Rs 535.94 crore during the first nine months of this fiscal against Rs 523.11 crore during the corresponding period of the last fiscal.

GTB books showed accumulative loses of Rs 1,225 crore when the bank was merged with OBC.

Total income has increased 9.34 per cent to Rs 1,176.14 crore for the third quarter in current fiscal as against Rs 1,075.61 crore in the year-ago period.