Bank of Baroda posts net profit of Rs 710 crore for June quarter
Bank of Baroda Q1 results: The lender said that results were not comparable with immediately preceding quarter and corresponding previous year as Vijaya Bank and Dena Bank had merged with it, effective from April 1, 2019
- Jul 25, 2019,
- Updated Jul 25, 2019 8:14 PM IST
State-owned Bank of Baroda (BoB) on Thursday reported a standalone net profit of Rs 709.87 crore for the first quarter ended June 30, 2019. This was the banker's first earnings announcement after it merged Dena Bank and Vijaya Bank with itself.
"The bank had posted standalone net profit of Rs 528.26 crore in June quarter of 2018 and loss of Rs 991.37 crore in March quarter of 2019," BoB said in a filing to the Bombay Stock Exchange.
Standalone total income of the public sector lender stood at Rs 20,860.9 crore during the quarter under review. It was Rs 12,787.71 crore during the corresponding quarter of the previous fiscal.
The state-run lender said that results were not comparable with immediately preceding quarter and corresponding previous year as Vijaya Bank and Dena Bank had merged with it, effective from April 1, 2019.
"The results for quarter ended June 30, 2019 include operations of erstwhile Vijaya Bank and erstwhile Dena Bank. Hence the results for the current quarter are not comparable with immediately preceding quarter and corresponding previous year," BOB said in the regulator filing.
State-owned Bank of Baroda (BoB) on Thursday reported a standalone net profit of Rs 709.87 crore for the first quarter ended June 30, 2019. This was the banker's first earnings announcement after it merged Dena Bank and Vijaya Bank with itself.
"The bank had posted standalone net profit of Rs 528.26 crore in June quarter of 2018 and loss of Rs 991.37 crore in March quarter of 2019," BoB said in a filing to the Bombay Stock Exchange.
Standalone total income of the public sector lender stood at Rs 20,860.9 crore during the quarter under review. It was Rs 12,787.71 crore during the corresponding quarter of the previous fiscal.
The state-run lender said that results were not comparable with immediately preceding quarter and corresponding previous year as Vijaya Bank and Dena Bank had merged with it, effective from April 1, 2019.
"The results for quarter ended June 30, 2019 include operations of erstwhile Vijaya Bank and erstwhile Dena Bank. Hence the results for the current quarter are not comparable with immediately preceding quarter and corresponding previous year," BOB said in the regulator filing.