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Bank of Baroda Q3 net profit up at Rs.1048 crore

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Bank of Baroda Q3 net profit up at Rs.1048 crore
Bank of Baroda today reported higher net profit of Rs. 1048 crore for the quarter ended December 2013 as against Rs. 1012 crore for the corresponding period a year ago, an increase of 4%. Total income of the bank also surged to Rs. 10,623 crore from Rs. 9,685 crore in the same period last year.
 

Net interest income (NII) of the bank came in at Rs. 3057 crore. However, asset quality of the bank slipped with higher gross non-performing assets (NPA) of 3.32% vs 3.15% in the quarter ended September 2013. Net NPA of the bank also increased from 1.86% to 1.88% quarter-on-quarter.

The capital adequacy ratio as per Basel III is reported at 12.01% in comparison to 12.07% in the previous quarter.

Meanwhile, stock of the bank after announcing Q3 results in line with the estimates, was seen trading higher by over 1% at Rs. 550 on NSE at 11.45am.

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