Bank of Baroda (BoB), one of the leading public sector lenders, today reported a rise of 12.55% in net profit to Rs 11.57 billion for the quarter ended Mar. 31, 2014 as compared to Rs 10.28 billion for the same period last year. Analysts, on average, expected the bank to report a profit of Rs 11.07 billion.
Quarterly income was at Rs 116.15 billion, an increase of 13.18% over Rs 102.62 billion for the same quarter, a year ago.
The bank has made provision of Rs 11.53 billion, which was lower by 27.86% from prior year period.
Net NPA was at Rs 60.34 billion for the quarter ended Mar. 31, 2014, as compared to Rs 41.92 billion for the quarter ended Mar. 31, 2013, representing increase of 43.94%.
Capital Adequacy Ratio of the bank, under Basel III was at 12.28% as on Mar. 31, 2014.
Shares of the bank gained Rs 65.2, or 7.77%, to trade at Rs 904.55. The total volume of shares traded was 345,439 at the BSE (11.49 a.m., Tuesday).