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Aided by tax write back of Rs 2,862.44 crore, Oriental Bank of Commerce (OBC) on Tuesday reported net profit of Rs 144.96 crore for the third quarter ended December 31,2019.
This public sector bank had reported a net loss of Rs 1,985.42 crore in the same quarter in the previous year. In the September quarter this fiscal, OBC had recorded a net profit of Rs 101.74 crore.
Total income for the quarter under review stood at Rs 5127.98 crore (Rs 4756 crore). Operating profit for the three months period ended December 31,2018 stood at Rs 1002.33 crore (Rs 742.82 crore).
Provisions for non performing assets for the quarter under review increased to Rs 4082.13 crore (Rs 2340.21 crore).
For the nine months ended December 31,2018, OBC has reported a net loss of Rs 146.51 crore as compared to a net loss of Rs 4221.52 crore.
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