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Shares of Oriental Bank of Commerce (OBC) on Wednesday jumped over 5 per cent after the company reported a 23.5 per cent rise in net profit for the second quarter ended September 2019.
The scrip gained 4.97 per cent to ₹52.75 on the BSE. At the NSE, it rose by 5.26 per cent to ₹52.95.
OBC on Tuesday reported a 23.5 per cent rise in net profit at ₹126 crore for the second quarter ended September.
Also read: Oriental Bank of Commerce Q2 profit rises 24.5% to ₹127 crore
The state-owned bank had posted a net profit of ₹102 crore in the corresponding July-September period last fiscal.
Read more: PSU bank shares advance; Indian Bank rises 4%
The bank’s total income rose 15 per cent to ₹5,702 crore in July-September as compared with ₹4,967 crore in the year-ago period.
OBC’s gross non-performing loans or bad loans came down to 12.53 per cent of the gross advances as on September 30, 2019 from 17.24 per cent at the end of September 2018.
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