Bank of Baroda (BoB) has reported a 20.31 per cent increase in net profit at Rs 182.61 crore in the first-quarter ended June 30, 2001, compared with Rs 151.78 crore in the corresponding quarter of the previous fiscal.
The total income of the bank rose 8 per cent to Rs 1,677.36 crore (Rs 1,554 crore), while the total expenditure increased by 3.34 per cent to Rs 1,314.75 crore (Rs 1,272.22 crore).
Interest income of the bank rose by 6.35 per cent to 1,500 crore (Rs 1,410 crore), while the interest expended increased marginally by 0.96 per cent to 944.66 crore (Rs 935.69 crore). The net interest margin rose to from 3.23 per cent to 3.39 per cent.
Other income of the bank registered a growth of 23.58 per cent to Rs 176.96 crore (Rs 143.19 crore ), while the non-interest income as a percentage of total income rose to 10.62 per cent (9.16 per cent).
The bank's operating profit during the quarter grew by 28.69 per cent to Rs 362.61 crore (Rs 281.78 crore) after the providing Rs 43.75 crore towards voluntary retirement scheme on pro-rata basis.
The bank has increased the provisioning during the quarter by 38.46 per cent to Rs 180 crore (Rs 130 crore) to take care of tightening of prudential norms for classification of non-performing assets in future, a bank statement said.
Global deposits of the bank rose by 7 per cent to Rs 55,145 crore (Rs 51,450 crore), while the advances grew by 13 per cent to Rs 27,996 crore (Rs 24,874 crore).
The capital adequacy ratio of the bank during the quarter increased to 12.50 per cent (12.10 per cent), while the earnings per share rose to Rs 6.19 (Rs 5.13).
