 "Bank of Baroda reports net profit of Rs 709.9 crore in June quarter")
Bank of Baroda, on Thursday, reported a standalone net profit of Rs 709.9 crore for the April-June quarter of financial year 2019-20 (Q1FY20). The bank had reported a PAT of Rs 528 crore in the June quarter of FY19 and a loss of Rs 991 crore in Q4FY19.
Analysts had expected the net profit at Rs 554 crore and an operating profit of Rs 5,967 crore .
The public lender's net interest income (NII) came in Rs 6,498.1 crore, while the net interest margin was 2.73%. The lender had reported a NII of Rs Rs 4,381 crore in the June quarter of the previous financial year (Q1FY19).
While the bank's gross NPA came in 10.28%, the net NPA came in at 3.95%.
Fresh slippages came in at Rs 5,583 crore.
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