New Delhi, Jan 29 (PTI) Public sector lender Bank of Baroda (BoB) Tuesday reported an over four-fold jump in net profit at Rs 471.25 crore for the third quarter ended December 2018.Also Read - Bank Employees Threaten Strikes in May-End as Fresh Discontent Brews Among Workers. Read Full Story

The bank had logged a net profit of Rs 111.78 crore in October-December 2017. Also Read - Loans To Become Dearer As Several Banks Hike Lending Rates After RBI's Repo Rate Increase. Details HERE

Total income in the reported quarter increased at Rs 14,562.85 crore as compared to Rs 12,976.28 crore in the year-ago period, BoB said in a regulatory filing. Also Read - Bank of Baroda Cuts Home and Car Loan Interest Rate | Check Details Here

The bank’s asset quality improved a tad with gross non-performing assets (NPAs) falling to 11.01 per cent of gross loans as of December-end 2018 against 11.31 per cent in the year-ago period.

Net NPAs or bad loans too came down to 4.26 per cent of total advances from 4.97 per cent by December-end 2017.

In absolute value, gross bad loans of the lender stood at Rs 53,184.28 crore as on December 31, 2018 as compared to Rs 48,480.44 crore a year ago.

As a result, provisions for non-performing asset during the reported quarter rose to Rs 3,416.02 crore as compared to Rs 3155.28 crore in the same period of 2017-18.

This is published unedited from the PTI feed.