Considering this, the BoI scrip could see a further slide to around Rs 18-level. The annualised earning per share has fallen to Rs 3.16. The BoI scrip plunged to an all-time low of Rs 22.15 on Wednesday, a fall of around 9 per cent. The scrip was among the top five losers on BSE where nearly, 1.3 lakh shares were traded. The scrip has been receiving a severe drubbing on bourses for quite some time.

BoI's total income saw a growth of only 19.25 per cent, mainly on account of a 23.5 per cent jump in global advances to Rs 23,863 crore. The bank has also been hit by its poor quality of assets with a very high netnon-performing assets of 13.17 per cent, which rose marginally when compared to 13.15 per cent in the first-half of fiscal 1998. Although the first-quarter net profit stood at around Rs 87 crore, the second quarter recorded a net profit of only Rs 14 crore.

Expenditure also shot up by 28 per cent to Rs 2306 crore and operating expenditure rose by 14.5 per cent to Rs 611 crore. Operating profit fell by 24.3 per cent. The bank saw a 20 per cent increase in interest income and 14.8 per cent rise in non-interest income.