Bank of Baroda Q1 net profit up 2.5% at Rs 1,168 crore
   
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Bank of Baroda Q1 net profit up 2.5% at Rs 1,168 crore

Last Updated: Thursday, August 1, 2013, 15:06
 
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Bank of Baroda Q1 net profit up 2.5% at Rs 1,168 crore
Mumbai: Bank of Baroda on Thursday reported a marginal 2.5 percent rise in net profit at Rs 1,167.87 crore for the first quarter ended June 30, 2013.

The state-owned bank had posted a net profit of Rs 1,138.86 crore in the same quarter (April-June) of 2012-13.

Total income of the bank in the first quarter of FY14 increased by 14.9 percent to Rs 10,717.49 crore, from Rs 9,328.41 crore a year ago, it said in a filing to the BSE.

Bank's provisions and contingencies in the first quarter of current fiscal also rose to Rs 1,017.86 crore from Rs 893.80 crore in the corresponding quarter of 2012-13.

Net non-performing assets (NPAs) or bad loans of the bank also increased to 1.69 percent during the quarter under review from 0.65 percent a year ago.

Gross NPAs stood at 2.99 percent in Q1 FY14, up from 1.84 percent a year ago.

Shares of the bank were traded at Rs 529.40 apiece on the BSE in noon trades, down 5.56 percent from the previous close.

PTI



First Published: Thursday, August 1, 2013, 15:06


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