BoB net up 21%

BS 200 SCORECARD

Bank of Baroda reported a 21.45 per cent increase in net profit at Rs 259.07 crore for the second quarter ended September 30, 2005, against Rs 213.31 crore a year earlier.

Net profit for the half-year ended September 30, 2005 was Rs 416.01 crore. Total income rose 5.03 per cent to Rs 2,003.59 crore Q2 from Rs 1,907.61 crore a year earlier. Interest earned on advances was higher by 21.13 per cent.

The bank's net interest income increased to Rs 781.76 crore from Rs 688.29 crore, registering a rise of 13.58 per cent. Total expenditure in the second quarter increased by 11.09 per cent to Rs 1,508.27 crore (Rs 1,357.70 crore).

Even operating expenses edged up by 19.71 per cent at Rs 595.99 crore (Rs 497.85 crore) on account of expenses relating to technology implementation, branding, etc and wage revision and amortisation.

Net non-performing assets (NPAs) stood at 1.13 per cent at the end of September 2005, down from 2.27 per cent in the July-September quarter of 2004. The capital adequcy ratio of the bank fell to 12.79 per cent from 13.97 per cent a year earlier.