<div>Bank of India, the nation's third-biggest state-run lender by assets, reported a sharply bigger-than-expected 84 percent fall in quarterly profit as bad loans surged.</div><div> </div><div>Net profit fell to 1.3 billion rupees ($20.3 million) for its fiscal first quarter to June 30, from 8.06 billion rupees reported a year earlier, the Mumbai-based lender said. Analysts on average had expected a net profit of 3.31 billion rupees, according to data compiled by Thomson Reuters.</div><div> </div><div>Gross bad loans as a percentage of total loans rose to 6.8 percent in the June quarter from 5.39 percent in the previous three months and 3.28 percent a year earlier.</div><div> </div><div>(Reuters)</div>
