BoB net profit zooms 172 pc in Q4

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Mumbai, Apr 28: Bank of Baroda (BoB) on Tuesday, Apr 28 posted a 172.3 pc rise in its fourth quarter net profit at Rs 752.69 crore as against Rs 276.44 crore a year ago.

The net margin of BoB for the quarter ended Mar 2009 improved to 3.17 pv from 2.78 pc a year ago as a result of the control over interest costs, rise in interest earnings and high fee-based income.

For the financial year ended March 2009, the bank recorded a profit of Rs 2,227.2 crore, an increase of 55.14 per cent, compared with Rs 1,435.52 crore in 2007-08.

The advances rose by 34.9 per cent to Rs 1,43,986 crore from Rs 1,06,701 crore at the end of March 2008. Its retail credit rose 16.3 per cent to Rs 19,651 crore.

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