Bank of Baroda Q1 net profit up 2.5% at Rs 1,168 crore

Total income of the bank in the first quarter of FY14 increased by 14.9 per cent to Rs 10,717.49 crore,from Rs 9,328.41 crore a year ago,it said in a filing to the BSE.

Bank’s provisions and contingencies in the first quarter of current fiscal also rose to Rs 1,017.86 crore from Rs 893.80 crore in the corresponding quarter of 2012-13.

Net non-performing assets (NPAs) or bad loans of the bank also increased to 1.69 per cent during the quarter under review from 0.65 per cent a year ago.

Gross NPAs stood at 2.99 per cent in Q1 FY14,up from 1.84 per cent a year ago.

Shares of the bank were traded at Rs 529.40 apiece on the BSE in noon trades,down 5.56 per cent from the previous close.