Bank of Baroda reports profit of Rs.330.84 Crores during June 2007 quarter

Bank of Baroda has announced the following Un-Audited results for the quarter ended June 30, 2007.

The Bank has posted a net profit of Rs 3308.40 million for the quarter ended June 30, 2007 as compared to Rs 1633.20 million for the quarter ended June 30, 2006. Total Income has increased from Rs 21928.70 million for the quarter ended June 30, 2006 to Rs 30248.00 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.9.08 for the quarter ended June 30, 2007 compared to Rs.4.48 during quarter ended June 30, 2006.

The Capital Adequacy Ratio in Percent was at 14.33 during quarter ended June 30, 2007 compared to 12.43% during quarter ended June 30, 2006.

The financial results for the Quarter ended June 30, 2007 have been arrived at after considering provision for NPAs, Standard Assets and depreciation/provision for investments on the basis of prudential norms issued by RBI. Provision for taxes (including Deferred tax, Wealth Tax and Fringe Benefit tax) and contingencies Including for employee benefits viz., gratuity, pension, leave encashment, additional retirement benefit of employees etc., have been considered on estimated basis.

During the Quarter ended June-07, Tier II bonds amounting to Rs 12211.70 million have been issued by way of Medium Term Notes denominated in USD.

In terms of RBI Guidelines, the bank has transferred a portion of Govt. Securities (SLR) kept in "Available for Sale" category to "Held to Maturity" category and a depreciation of Rs 370.80 million has been charged to the Profit and Loss A/c in this regard.

The stock closed on Friday at Rs.289.30, down by Rs.14.15 or 4.66%. The total traded quantity was 190438 compared to 2 week average of 385702. The stock hit an intraday high of Rs.299 and low of Rs.284.

Source : Equity Bulls

Keywords