Oriental Bank profit climbs 47% to Rs 397.65 cr

Public sector lender Oriental Bank of Commerce (OBC) on Wednesday posted a net profit of Rs 397.65 crore for the second quarter ended September 30, nearly 47 per cent higher from the Rs 270.8 crore in the same period a year earlier.

Total income of the lender increased to Rs 3,206.04 crore during the September quarter of current financial year, from Rs 2,800.90 crore registered in the quarter ended September 2009, OBC said in a statement.

Shares of OBC jumped 2.39 per cent to hit an all-time high of Rs 541.90 on BSE, soon after the results. However, profit book crept into and the scrip was quoting at Rs 527, down 0.43 per cent in the afternoon session.