1. Bank of Baroda Q1 net profit down 23 per cent, bad loans rise

Bank of Baroda Q1 net profit down 23 per cent, bad loans rise

Bank of Baroda's net profit fell to Rs 10.52 billion ($164.50 million) for its fiscal first quarter to June 30 from Rs 13.62 billion a year earlier.

By: | Mumbai | Published: July 30, 2015 12:31 PM

 

Bank of Baroda

Bank of Baroda’s Q1 result: The company’s gross bad loans as a percentage of total loans rose to 4.13 per cent, compared with 3.72 per cent in the previous quarter and 3.11 per cent a year earlier. (PTI)

Bank of Baroda, India’s second-biggest state-run lender by assets, reported a 23 per cent fall in quarterly net profit, but still topped estimates.

Net profit fell to Rs 10.52 billion ($164.50 million) for its fiscal first quarter to June 30 from Rs 13.62 billion a year earlier.

Analysts on average had expected the lender to report a net profit of 9.29 billion rupees, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans rose to 4.13 per cent, compared with 3.72 per cent in the previous quarter and 3.11 per cent a year earlier.

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