Company Profile

Bank of India has reported results for fourth quarter (Q4) and year ended March 31, 2024.

The bank has reported 6.55% rise in its net profit at Rs 1,438.91 crore for the quarter under review as compared to Rs 1,350.44 crore for the same quarter in the previous year. Total income of the bank increased by 8.24% at Rs 17,913.03 crore for Q4FY24 as compared Rs 16,548.93 crore for the corresponding quarter previous year.

On consolidated basis, the bank has reported 11.50% rise in its net profit at Rs 1,573.88 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,411.53 crore for the same quarter in the previous year. Total income of the bank increased by 8.16% at Rs 18,080.20 crore for Q4FY24 as compared Rs 16,715.94 crore for the corresponding quarter previous year. 

For the year ended March 31, 2024, the bank has reported 57.05% rise in net profit at Rs 6,317.92 crore as compared to Rs 4,022.94 crore for the previous year. Total income of the bank increased by 22.02% at Rs 66,804.34 crore for year under review as compared to Rs 54,747.61 crore for year ended March 31, 2023.

For the year ended March 31, 2024, on the consolidated basis, the bank has reported 71.04% rise in its net profit at Rs 6,564.46 crore as compared to Rs 3,837.96 crore for the previous year. Total income of the bank increased by 22.06% at Rs 67,306.47 crore for year under review as compared to Rs 55,142.86 crore for year ended March 31, 2023. 

Bank Of India is currently trading at Rs. 124.95, down by 13.90 points or 10.01% from its previous closing of Rs. 138.85 on the BSE.

The scrip opened at Rs. 128.00 and has touched a high and low of Rs. 130.80 and Rs. 121.70 respectively. So far 4569785 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 158.00 on 30-Apr-2024 and a 52 week low of Rs. 69.41 on 26-Jun-2023.

Last one week high and low of the scrip stood at Rs. 150.90 and Rs. 121.70 respectively. The current market cap of the company is Rs. 56316.50 crore.

The promoters holding in the company stood at 73.38%, while Institutions and Non-Institutions held 20.34% and 6.28% respectively.

Bank of India has reported 6.55% rise in its net profit at Rs 1,438.91 crore for the fourth quarter (Q4) ended March 31, 2024 as compared to Rs 1,350.44 crore for the same quarter in the previous year. Total income of the bank increased by 8.24% at Rs 17,913.03 crore for Q4FY24 as compared Rs 16,548.93 crore for the corresponding quarter previous year.

On consolidated basis, the bank has reported 11.50% rise in its net profit at Rs 1,573.88 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,411.53 crore for the same quarter in the previous year. Total income of the bank increased by 8.16% at Rs 18,080.20 crore for Q4FY24 as compared Rs 16,715.94 crore for the corresponding quarter previous year. 

For the year ended March 31, 2024, the bank has reported 57.05% rise in net profit at Rs 6,317.92 crore as compared to Rs 4,022.94 crore for the previous year. Total income of the bank increased by 22.02% at Rs 66,804.34 crore for year under review as compared to Rs 54,747.61 crore for year ended March 31, 2023.

For the year ended March 31, 2024, on the consolidated basis, the bank has reported 71.04% rise in its net profit at Rs 6,564.46 crore as compared to Rs 3,837.96 crore for the previous year. Total income of the bank increased by 22.06% at Rs 67,306.47 crore for year under review as compared to Rs 55,142.86 crore for year ended March 31, 2023. 

Cipla Health (CHL), the wholly owned subsidiary and consumer healthcare arm of Cipla, has signed a business transfer agreement (BTA) for purchase of the distribution and marketing business undertaking of cosmetics and personal care business (Undertaking) of Ivia Beaute, India (IVIA) including IVIA’s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis. This strategic move is aligned with Cipla’s focus on enhancing its consumer healthcare and wellness portfolio.

Deep Industries has received a Letter of Award from Oil India for Charter Hiring of 01 No. of 1000 HP Mobile Rig package for 2 years (with the provision of 1-year extension) for Drilling and Workover jobs in Tulamara DSF Block, Tripura under OIL, Duliajan. The total estimated value of the said award is approximately Rs 81 crore.

Bharti Airtel has deployed additional sites in various districts such as Nanded, Palakkad, Purba & Paschim Medinipur and Shajapur under its rural enhancement project. In this year alone, Airtel has doubled down on its commitment to the states and has invested additional capex to enhance its network connectivity for seamless experience on 4G, 5G, Broadband and Fiber. The addition of fresh fiber capacity will support the growth of demand for high-speed data services in these regions.

Thomas Cook (India) has opened a counter at its franchise outlet at Laxmi Nagar, in its focus to leverage the growing market of Delhi-NCR. This expands the company’s forex network in Delhi-NCR to 12 locations: 11 branches and 1 airport outlet. In addition to the commercial hub of Laxmi Nagar, the outlet will serve residential/ business areas of Preet Vihar, Nirman Vihar, Pandav Nagar, Patparganj, Mayur Vihar, Shakarpur and Geeta Colony. Thomas Cook’s data has highlighted Delhi NCR as a high growth market and Laxmi Nagar offers the company a range of valuable consumer segments including students, business and leisure travellers.

Bank of India (BoI) and India Mortgage Guarantee Corporation (IMGC) have entered into partnership to offer innovative mortgage guarantee-backed home loan products. This collaboration focuses on salaried and self-employed home loan customers in the affordable housing segment. Leveraging IMGC's guarantee expertise and BoI's extensive network of over 5,100 branches across India, this collaboration will enable the bank to provide home loan products with greater flexibility and security to potential home owners.

Tata Consultancy Services (TCS) has unveiled a new delivery center in Londrina, Parana, Brazil. This new center will create more than 1,600 new job opportunities over the next five years, contribute to the local economy and strengthen TCS’ presence in the region. Present in Londrina since 2018, TCS employs around 1,700 people in the city. The new centralized campus will bring the city workforce under one roof, creating a vibrant hub for collaboration and innovation in Londrina.

Hitech Corporation has received an approval for incorporation of a Wholly Owned Subsidiary (WOS) in the United States of America (USA).The WOS is being incorporated in USA with object to explore the opportunities for upgrading manufacturing technology and newer technical knowhow, improve designing capabilities of products and moulds, research and development of innovative materials and sustainable alternatives for circular economy, sourcing new products for the company and expanding the base of vendors and customers globally as well as for finding new business opportunities. 

Bank of India (BoI) and India Mortgage Guarantee Corporation (IMGC) have entered into partnership to offer innovative mortgage guarantee-backed home loan products. This collaboration focuses on salaried and self-employed home loan customers in the affordable housing segment.

Leveraging IMGC's guarantee expertise and BoI's extensive network of over 5,100 branches across India, this collaboration will enable the bank to provide home loan products with greater flexibility and security to potential home owners. IMGC's guarantee will mitigate the risk of defaults for the bank, allowing them to potentially offer more favourable loan terms to borrowers.

Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.