Bank of India Ltd, the country's sixth-biggest lender by assets, reported a fourth-quarter net loss of Rs 10.46 billion ($162.08 million) as provisions for bad loans remained high.
Net loss for the quarter ended March 31 narrowed from a loss of Rs 35.87 billion a year earlier, the Mumbai-based lender said in a statement on Monday.
Analysts on average had expected a net profit of Rs 602.3 million, according to data compiled by Thomson Reuters.
Bad loans as a percentage of total loans rose to 13.22 per cent at the end of March, compared with 13.38 percent in the preceding quarter, and 13.07 per cent a year ago.
Provisions for non-performing assets fell to Rs 44.84 billion from Rs 54.42 billion a year earlier, the bank said.
Shares of the bank were trading down 2.9 percent by 0734 GMT on the National Stock Exchange.
(Reuters)
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