OBC posts Rs 201 crore profit for January-March

Public sector lender Oriental Bank of Commerce (OBC) Monday posted a net profit of Rs 201.50 crore for the quarter ended March 2019 against a loss of Rs 1,650.22 crore during the corresponding quarter of the last fiscal.

Total income of the bank during the January-March quarter rose to Rs 5,711.92 crore from Rs 4,689.12 crore in the same quarter a year ago, OBC said in a regulatory filing.

Asset quality of the bank improved with gross non-performing assets (NPAs) or bad loans coming down to 12.66 per cent of the net advances as on March 31, 2019, against 17.63 per cent reported a year ago.

Net NPAs as a percentage of gross advances at the end of March 2019 stood at 5.93 per cent, down from 10.48 per cent a year ago.