Oriental Bank shares jump over 5 pc after Q2 earnings

Shares of Oriental Bank of Commerce (OBC) on Wednesday jumped over 5 percent after the company reported a 23.5 percent rise in net profit for the second quarter ended September 2019. The scrip gained 4.97 percent to Rs 52.75 on the BSE.

At the NSE, it rose by 5.26 percent to Rs 52.95. OBC on Tuesday reported a 23.5 percent rise in net profit at Rs 126 crore for the second quarter ended September.

The state-owned bank had posted a net profit of Rs 102 crore in the corresponding July-September period last fiscal. The bank's total income rose 15 percent to Rs 5,702 crore in July-September as compared with Rs 4,967 crore in the year-ago period.

OBC's gross non-performing loans or bad loans came down to 12.53 percent of the gross advances as on September 30, 2019, from 17.24 percent at the end of September 2018.

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