Bank of Baroda Q1 profit soars 20 per cent to Rs 1,033 cr

State-owned Bank of Baroda (BoB) on Wednesday posted a 20 per cent jump in net profit to Rs 1,032.8 crore for the first quarter ended June 30, 2011.

The lender had posted a net profit of Rs 859.1 crore for the corresponding quarter last fiscal, BoB said in a filing to the Bombay Stock Exchange (BSE).

Total income of the bank increased by 36 per cent during the period to Rs 7,272.6 crore from Rs 5,344.2 crore in the corresponding year-ago period.

The interest income of the bank rose to Rs 6,631.7 crore during the reporting quarter from Rs 4,726.9 crore in the first quarter of the previous fiscal.

BoB's gross non-performing assets (NPAs) rose marginally to 1.46 per cent during the quarter ended June 30 from 1.41 per cent in the same quarter a year ago.