Bank of Baroda Q3 net up 21% to 1,290 cr

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Bank of Baroda Q3 net up 21% to 1,290 cr

BS Reporter / Mumbai 25 Jan 12 | 11:50 AM

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Bank of Baroda today posted a growth of 20.7% in the net profit for the thrid quarter ended December, 2011 at Rs 1,290 crore on strong fee income.

Net profit in the corresponding quarter a year ago was at Rs 1,069 crore.

According to a Bombay Stock Exchange (BSE) release, total income has increased by 39% to Rs 8,821.32 crore for the quarter under review from Rs 6,342.30 crore for the same quarter last fiscal.

During the quarter, other income rose 70% to Rs 1,149 crore as compared to Rs 676 crore year-on-year (y-o-y).

Net interest income was stood at Rs 2,656 crore for the quarter. The bank saw a growth of 40% in the operating profit. While, international business grew by 44% for the bank.

Gross Non-Performing Assets (NPAs) grew by 1.48% as compared to 1.41% quarter-on-quarter. Total provisions during the period were at Rs 836 crore during the period.

At noon, the shares of the bank were trading up 1.66% at Rs 812.90 apiece on the BSE