Bank of Baroda Q1 net profits rise to Rs 1362 crores; asset quality deteriorates

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Bank of Baroda Q1 net profits rise to Rs 1362 crores; asset quality deteriorates
Bank of Baroda: Quotes, News
BSE 162.10BSE Quote3.6 (2.22%)
NSE 162.05NSE Quote3.55 (2.19%)
Bank of Baroda reported a net profit of Rs 1362 crores for the quarter ending June 30, 2014, from Rs 1157 crores reported in the quarter ending March 31, 2014.

However, non performing assets (NPAs) deteriorated with gross NPAs coming in at 3.11 per cent for Q1 2014, as against 2.94 per cent in the period ending March 2014. Net non performing assets also moved upto 1.58 per cent from 1.52 per cent.

The non performing loan coverage provisioning coverage ratio was placed at 66.68 per cent. The restructured assets at the bank was placed at Rs 986 crores. Cash recovery during the quarter ending June 30, 2014 was at Rs 564 crores.

The stock of the company was up marginally at Rs 870 on the National Stock Exchange.

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