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News Details

Bank of Baroda Q3 net profit zoomed 321.59% at Rs 471.25 cr

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29/01/2019 18:00
The bank reported standalone net profit of Rs 471.25 crore for the quarter ended December 31, 2018 as compared to Rs 111.78 crore in the same period last year, registering a year-on-yearÿgrowthÿof 321.59 per cent.

Interest income of the bank rose by 14.50 per cent at Rs 12941.71 crore for the quarter ended December 31, 2018 as against Rs 11303.24 crore in the corresponding period last year.

During the October-December quarter, total income rose moderately by 12.23 per cent to Rs 14,562.85 crore from Rs 12,976.28 crore in the year ago period.

Meanwhile, operating expenses increased by 18.21 per cent to Rs 11,024.32 crore from Rs 9,326.17 crore in the same period last year.

Operating profit slipped 3.06 per cent to Rs 3,538.53 crore from Rs. 3,650.11 crore.

Provisions and Contingencies slipped by 18.45 per cent at Rs 2,794.20 crore from Rs 3,426.51 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 7.95 per cent at Rs 4,743.23 crore versus Rs 4,394.03 crore in the year ago period. Non-interest income dipped 3.10 per cent year-on-year to Rs 1,621.14 crore.

On the asset side, gross non- performing assets (NPAs)ÿfellÿto 11.01 per cent of the gross advances as at the end of December 31, 2018 from a level of 11.31 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 4.26 per cent of net advances on December 31, 2018 from 4.97 per cent a year ago.