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Bank of Baroda net up 11.6% - Views on News from Equitymaster
Bank of Baroda has reported a net profit of Rs 1319m a growth of 11.6% for the 3QFY2000. Its interest income went up by 7%, while interest expenses grew by 6.2%. Its net margins have shown marginal improvement.
(Rs m)
3QFY2000
3QFY1999
Change
Interest earned
12,966
12,115
7.0%
Other Income
1,336
1,282
4.3%
Interest expenses
8,588
8,084
6.2%
Operating expenses
3,157
2,801
12.7%
Provisions & Contingencies
1,240
1,330
-6.8%
Net Profit
1,319
1,182
11.6%
Net profit margin (%)
10.2%
9.8%
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Asset quality was under pressure on account of farm loan waivers. Despite the higher provisioning, the company reported a healthy profit growth of 20%.
Bill connects the dots...between money and growth, real money and real resources, gold and cryptocurrencies...and between gold, cryptocurrencies, and time.
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