BoB posts profit of Rs 253 crore in Q3

Bank of Baroda (BoB) posted net profit of Rs 252.67 crore in the third quarter ended December 2016 (Q3FY17), against net loss of Rs 3,342.2 crore in October-December 2015 (Q3 FY16).

Sequentially, net profit was down; the lender had posted Rs 552 crore in July-September 2016. BoB shares closed about two per cent higher at 188 a share on the BSE. The Mumbai-based bank had announced its results after stock market trading hours.

Net interest income (revenues from interest minus expenses) for the quarter rose 15.85 per cent to Rs 3,135 crore.

Other income, comprising fees, commissions and treasury, showed steep 59.5 per cent rise at Rs 1,774 crore in Q3 from Rs 1,112 crore in Q3 of FY16.