Bank of Baroda’s Q1 net grows by 20%

PSU bank -Bank of Baroda- has reported results for the quarter ended June 30, 2011.

The bank’s net profit has registered growth of 20.22% at Rs 1032.85 crore for the quarter as compared to Rs 859.16 crore for the corresponding quarter of the previous year. Its total income has increased by 36.08% to Rs 7272.64 crore for the quarter under review from Rs 5344.20 crore for the Q1Y11.

The banks’gross NPA stood at 1.46% for the quarter ended June 30, 2011 as compared to 1.41% in the quarter ended June 30, 2010. Its net NPA also rose at 0.44% in Q1FY12 as compared to 0.39% in Q1FY11. Further, the bank’s Return on Assets (ROA) has declined to 1.13% for the quarter from 1.19% in the similar quarter of the last year.