PSU Banking major, Bank of Baroda has reported profits that have come in line with estimates at Rs 1168 crores for the second quarter ending Sept 30, 2013. This was almost flat when compared to the previous quarter, wherein, net profits were placed at Rs 1167 crores.
Asset quality as was expected has deteriorated. Gross non performing asset for the quarter has risen to 3.15% as compared to 2.99 in the previous quarter of the current year.
Similarly, net non performing assets have also risen to 1.86% from 1.69%.
The provision cover4age ratio for the bank was placed at 61.68 as on Sept 30, 2013. The Bank of Baroda stock was trading higher by 0.70% on the National Stock Exchange.