Mumbai: State-run Bank of Baroda, today reported 12.48 per cent rise in net profit at Rs 1,157.27 crore for the quarter ended March 31, 2014. Gross NPA was 2.94% compared to 3.32% on a sequential basis. Net NPA came in at 1.52% vs 1.88% q-o-q.

The bank had reported a net profit of Rs 1,028.85 crore in the January-March quarter of 2012-13 fiscal.

The total income of the bank rose to Rs 11,614.85 crore during the March quarter of 2013-14 fiscal, from Rs 10,262.5 crore in the previous financial year, BoB said in a filing to the BSE.

Provisions and contingencies during the March quarter stood at Rs 1,153 crore, down from Rs 1,598 crore in the corresponding period a year ago.

Interest income in the fourth quarter of 2013-14 rose to Rs 10,288 crore, as compared to Rs 9,071 crore in the year-ago period.

For the full fiscal, BoB reported 1.35 per cent rise in net profit at Rs 4,541.08 crore, as against Rs 4,480.72 crore in 2012-13 fiscal.

The bank’s total income increased to Rs 43,402.45 crore during the 2013-14 fiscal, from Rs 38,827.28 crore a year ago.

BoB’s slippages for the quarter amounted to Rs 1,217 crore.  Capital adequacy ratio (Basel III) came in at 12.28%.

The stock posted a sharp gain post the numbers and hit an intra-day high of Rs 913 which was also a 52-week high for the scrip.

Source: Lokesh Shastri