Bank of Baroda Q3 net drop 21% at Rs 1,011 cr

Net non-performing assets or bad loans of the bank increased to 1.12% during the quarter

Bank of Baroda today reported a 21.5% 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 BSE.

The net non-performing assets (NPA) or bad loans of the bank increased to 1.12% during the quarter from 0.51% in the previous quarter.

In terms of value, the net NPA stood at Rs 3,363.23 crore in the reported period from Rs 1,325.27 crore in the year-ago period.

 

Shares of the bank were trading at Rs 808.90 apiece in noon trades, down 6.72% from the previous close.