State-run Bank of Baroda (BoB) today reported a profit of Rs 154.72 crore for the March quarter as provisions for bad loans witnessed significant decline.
The bank had reported a huge loss of Rs 3,230.14 crore in the same period a year ago.
The bank's total income rose to Rs 12,852 crore in the March quarter from Rs 12,789 crore in the year ago period, BoB said in a regulatory filing to stock exchanges.
The provisions declined to Rs 2,622.97 crore from Rs 6,857.66 crore in the year ago period as gross NPA ratio moved up marginally to 10.46 per cent from 9.99 per cent.
Its net NPAs also eased to 4.72 per cent as against 5.06 per cent at the end of March 2016.
The board of the directors of the bank has recommended a dividend of Rs 1.20 per share on the face value of Rs 2 for 2016-17.
For full 2016-17 fiscal, the bank posted a net profit of Rs 1,814.98 crore as against a loss of Rs 5,067.68 crore in the preceding fiscal.
Total income rose to Rs 52,410.22 crore in the reported fiscal as against Rs 51,791.17 crore in 2015-16 fiscal.
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