For the first quarter, the State-owned Bank of India (BoI) announced that their net profit at Rs 517.5 core was turned down by 28%.

It also announced that in the Bombay Stock Exchange (BSE) folder, a net profit of Rs 725.1 core was recorded for the last matching financial quarter.

Though, as compared to the last year’s net profit, during the period, the whole profits of the bank at Rs 7,293.6 cores were increased by 34.8% and in the same quarter, the financial profits were raised up to of Rs 6,633.5 cores.

Meanwhile, to talk about the quarter results, Mr. M V Nair, Union Bank’s Chairman, spoke to the market analyst group.

On the other hand, Edelweiss Capital also recorded the downfall of their net profit by 23%. The income, however, has showed an insignificant boost of approximately 2.5%.

Rashesh Shah, Chairman and CEO, Edelweiss Capital, quoted, “However, cost pressures persist but to achieve top line growth both on y-o-y and q-o-q and the Macro-economic concerns continued to impinge on the activity levels in credit and capital markets in the first quarter. However, we have launched operations in our life insurance business and continue to incubate our new businesses of asset management and housing finance”.