BoR net soars 67% to Rs 30.65 crore

Bank of Rajasthan has reported a 67 per cent jump in its third quarter net profit at Rs 30.65 crore as against Rs 18.36 crore in corresponding quarter of the previous financial year.

The profitability growth has been achieved mainly on account increased income on investments and other income. In the nine months period ended December 31, 2003, the bank's net profit shot up by 95 per cent to Rs 91.17 crore as against Rs 46.63 crore in the year-ago period.

In the reporting quarter, BoR's total income rose by 17 per cent to Rs 178.67 crore (Rs 152.53 crore in Q3 of 2002-03) and total expenditure was up by 16 per cent to Rs 125.15 crore (Rs 107.64 crore).

A break-up of the total income shows that interest/ discount on advances/ bills was down by 11 per cent to Rs 46.88 crore (Rs 52.46 crore) while income on investments and other income were up by 36 per cent and 27 per cent to Rs 80.68 crore (Rs 59.29 crore) and Rs 45.61 crore (Rs 35.77 crore), respectively.