Oriental Bank shares gain over 2 pc after Q2 earnings

Shares of Oriental Bank of Commerce (OBC) on Wednesday rose by over 2 percent after the company reported a 23.5 percent rise in net profit for the September quarter. The scrip closed 2.39 percent higher at Rs 51.45 apiece on the BSE. During the day, it jumped 4.97 percent to Rs 52.75 apiece.

On the NSE, it rose 2.18 percent to settle at Rs 51.40 apiece. OBC on Tuesday reported a 23.5 percent rise in net profit at Rs 126 crore for the September quarter.

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 assets 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.