Bank of Baroda has posted 19.85 percent increase in
net profit at Rs.292.99 crore in the first quarter ended
June 30, 2004 as against Rs.244.47 crore in the corresponding
period last year. Similarly overall operating profit
was up by 28.30 percent at Rs.596.49 crore from Rs.464.91
crore in Q1 2003-04.
income rose to Rs.1923 crore from Rs.1796.97 crore registering
an increase of 7.01 percent. Interest income was lower
by 3.68 percent at Rs.1528.41 crore from Rs.1586.88
crore last year. Adjusting for extraordinary income
of Rs.75 crore being interest on refund of income tax
in June 2003 (Rs.9 crore in June 04) the fall is marginal.
The fall has been on account of fall in yields on the
interest income after adjusting for the extraordinary
income as above, however, has grown by 14.43 percent
to Rs.674.00 crore from Rs.589.00 crore registering
a rise of 14.43 percent.
income rose by 87.82 percent to Rs.394.59 crore from
Rs.210.00 crore. Treasury income by sale of investment
rose to Rs.219.79 crore from Rs.67.59 crore. This includes
gain on stock market operations of Rs.21.86 crores.
expenditure declined marginally by 0.42 percent at Rs.1326.51
crore from Rs.1332.06 crore. Interest expenditure declined
substantially by 8.35 percent to Rs.845.37 crore from
Rs.922.42 crore. Payments to and provisions for employees
rose by 18.94 percent on the back of increased provisions
towards pension, gratuity, leave encashment etc. Total
provisions and contingencies rose by 37.68 percent to
Rs.303.50 crore from Rs.220.44 crore.
for NPAs reduced by 64.46 percent to Rs.71.20 crore
from Rs.200.31 crore. However provisions for depreciation
on investments rose to Rs.58.51 crore from Rs.1.14 crore
being net depreciation on securities (including stock
based income and other income (excluding sale of investments)
rose by 22.67 percent to Rs.174.80 crore from Rs.142.50
crore. This forms 9.10 percent of the total income.
to average working funds (excl. extraordinary income)
rose to 3.16 percent from 2.96 percent.
business mix has grown by 12.53 percent to Rs.1,10,787.52
crore from Rs.98450.07 crore.
deposits rose by 12.50 percent to Rs.73570 crore from
advances rose by 12.60 percent to Rs.37218 crore from
lending rose by 57.36 percent to Rs.4688.08 crore from
Rs.2979.17 crore. It is 14.76 percent of total domestic
loan portfolio has increased by 53.15 percent to Rs.2798
crore from Rs.1827 crores.
NPAs have gone down to Rs.1056.25 crore from Rs.1242.26
crore, percentage-wise there is fall from 3.82 percent
to 2.90 percent. Gross NPAs rose marginally by Rs.79
crore during the above period giving 10.41 percent of
Adequacy Ratio went up to 13.97 percent from 13.91 percent
as of 31.03.2004.
bank expects to grow the deposits and advances portfolio
during the year 2004-05, by about 18 percent.