Bank of Baroda Q3 profit jumps four-fold to Rs 471 crore; total income increases to Rs 14,562.85 crore

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. [caption id=“attachment_4852811” align=“alignleft” width=“380”] Representational image. Reuters[/caption] 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.     To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.