Mumbai: Bank of Baroda (BoB) on Thursday reported a 10.2 per cent decline in net profit to Rs 1,168.10 crore for the July-September quarter on account of higher provisioning against bad loans.
It had posted a net profit of Rs 1,301.39 crore for the same period of last fiscal.
However, the total income during the quarter increased to Rs 10,447.31 crore, from Rs 9,550.86 crore in the year-ago period.
The provision and contingencies of the bank rose to Rs 860.83 crore for the September quarter as compared to Rs 646.41 crore in the year-ago period, BoB said in a filing to the BSE.
During the first half of the current fiscal, the bank's net profit slipped by 4.2 per cent to Rs 2,335.97 crore, as against Rs 2,440.25 crore in H1 of 2012-13.
The total income rose to Rs 21,164.80 crore in the first six months from Rs 18,879.27 crore in the same period a year earlier.
As of September 30, 2013, the bank's portfolio quality deteriorated further, with gross non-performing assets (NPAs) rising to 3.15 per cent of gross advances, as against 1.98 per cent year a year ago.
Its net non-performing assets during the second quarter rose to 1.86 per cent from 0.82 per cent in the same period last year.
