Bank of Baroda braves slowdown with superb quarterly results
5 Feb 2013 6:34 AM IST
Bank of Baroda on Monday reported a 21.5 per cent decline in its net profit at Rs 1,011.62 crore for the quarter ended December 2012.
Its net profit stood at Rs 1,289.85 crore in the October-December period of the previous fiscal.
The public sector lender earned a total of Rs 9,685.51 crore during October-December quarter of 2012-13, up from Rs 8,821.32 crore in the same quarter a year ago, it said in a filing to the Bombay Stock Exchange (BSE). The net non-performing assets (NPA) or bad loans of the bank rose to 1.12 per cent during the quarter from 0.51 per cent in the previous quarter.
In terms of value, the net non-performing assets stood at Rs 3,363.23 crore in the reported period from Rs 1,325.27 crore in the year-ago period. Shares of Bank of Baroda fell by nearly 8 per cent, wiping-off Rs 2,674 crore from the company’s market value.
Its net profit stood at Rs 1,289.85 crore in the October-December period of the previous fiscal.
The public sector lender earned a total of Rs 9,685.51 crore during October-December quarter of 2012-13, up from Rs 8,821.32 crore in the same quarter a year ago, it said in a filing to the Bombay Stock Exchange (BSE). The net non-performing assets (NPA) or bad loans of the bank rose to 1.12 per cent during the quarter from 0.51 per cent in the previous quarter.
In terms of value, the net non-performing assets stood at Rs 3,363.23 crore in the reported period from Rs 1,325.27 crore in the year-ago period. Shares of Bank of Baroda fell by nearly 8 per cent, wiping-off Rs 2,674 crore from the company’s market value.
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