New Delhi: Public sector lender Bank of Baroda (BoB) Tuesday reported an over four-fold jump in net profit at Rs 471.25 crore for the third quarter ended December 2018.
The bank had logged a net profit of Rs 111.78 crore in October-December 2017.
Total income in the reported quarter increased at Rs 14,562.85 crore as compared to Rs 12,976.28 crore in the year-ago period, BoB said in a regulatory filing.
The bank's asset quality improved a tad with gross non-performing assets (NPAs) falling to 11.01 percent of gross loans as of December-end 2018 against 11.31 per cent in the year-ago period.
Net NPAs or bad loans too came down to 4.26 percent of total advances from 4.97 percent by December-end 2017.
In absolute value, gross bad loans of the lender stood at Rs 53,184.28 crore as on December 31, 2018 as compared to Rs 48,480.44 crore a year ago.
As a result, provisions for non-performing asset during the reported quarter rose to Rs 3,416.02 crore as compared to Rs 3155.28 crore in the same period of 2017-18.
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Updated Date: Jan 29, 2019 19:32:02 IST