BoR finally back in black

MUMBAI, FEB 7: Bank of Rajasthan has a come out of the red by posting a net profit of Rs 2.56 crore during the third quarter ended December 31, 8217;99 compared with a net loss of Rs 49.26 crore during the corresponding period last year.

During the nine-month period ended December 31, BoR recorded a profit of Rs 6.61 crore against a loss of Rs 44.24 crore in the same period during the previous financial year. During the third quarter, the interest income grew by 14.55 per cent to Rs 95.94 crore compared with Rs 83.75 crore during the previous corresponding period. Other income, however, declined by 14.83 per cent to Rs 10.89 crore from the previous year8217;s Rs 12.78 crore.

Total income rose by 10.66 per cent to Rs 106.82 crore compared with Rs 96.53 crore in the previous year. Provisions and contingencies declined drastically to Rs 17.23 lakh during the third quarter compared with Rs 50.75 crore during the corresponding last year.