Oriental Bank of Commerce reports 10.35% increase in Apr-Jun net profit

NEW DELHI: Public sector lender Oriental Bank of Commerce (OBC) has registered a increase of 10.35 per cent in its net profit for the first quarter ended June 30, 2012 at Rs 391.42 crore.

In the corresponding period last fiscal, the lender had logged a net profit of Rs 354.70 crore.

During the reporting quarter, total income increased by 19.77 per cent to Rs 4,696 crore as compared to Rs 3,920-crore total income clocked in the year-ago period.

Company's operating profit during the quarter under review rose by 11.88 per cent to Rs 896.54 crore (Rs 801.37 crore)

The net interest margin stood at 2.79 per cent, registering a sequential increase of 11 basis points over the fourth quarter of the previous fiscal.