BANK OF BARODA = RESULTS = Q3 FY 2011 =QTR ENDING DECEMBER ,2010 = NET PROFIT UP 28.4% = GOOD PERFORMANCE

Bank of Baroda

NSE Symbol   BANKBARODA

INTEREST ON ADVANCES : is Rs.4212 cr – up by 9.74% from previous qtr and up by 33.42% from corresponding qtr of Q3 FY 10.

INCOME ON INVESTMENTS : is Rs.1277 cr – up by 10.45% from previous qtr and by 39.89% from corresponding qtr.

NET INTEREST INCOME : is Rs.2292 cr – up by 12.47% from previous qtr and up by 43.16% from corresponding qtr.

TOTAL INCOME : is Rs.6342 cr – up by 8.6% from previous qtr and by 31.13% from corresponding qtr.

OPERATING PROFIT : is Rs.1851 cr – up by 11.74% from previous qtr and by        46.35% from corresponding qtr.

Provisions : is Rs.304.06 cr – compared to Rs.185.49 cr in previous qtr and Rs.242.49 cr in corresponding qtr.

NET PROFIT :  is Rs.      1069 cr – up by 4.86 from previous qtr and by 28.4% from corresponding qtr.

Capital Adequacy Ratio is reasonable at        11.68.

% of Gross/Net NPA      is very good at 0.36.

Return on Assets : is very good at 1.34.

Basic EPS : is Rs.29.34 – up from Rs.27.98 in previous qtr and Rs.22.85 in corresponding Qtr.

The annual EPS for current Year will be around Rs.110. Current MP is Rs.834. The PE Ratio works out to 7.58. As can be seen, BOB is clocking higher EPS almost every quarter consistently. Current Quarter results (Q3) are also excellent.

Over all – the Banking sector (Public and Private) is producing excellent results quarter after quarter and deserves much better valuations.

RESULTS TABLE :

BANK OF BARODA	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10	31-Dec-09
Interest on Advances	421220	383828	356576	324613	315715
DIF %1	4212	9.74	18.13	29.76	33.42
Income on Investments	127740	115654	102244	92495	91317
DIF %2	1277	10.45	24.94	38.1	39.89
Income on Balances With RBI	11463	14692	12730	12328	10200
Others	6192	1692	1146	5948	465
Interest Earned	566615	515866	472696	435384	417697
Other Income	67615	68130	61724	76689	65965
Total Income	634230	583996	534420	512073	483662
DIF %3	6342	8.6	18.68	23.86	31.13
Interest Expended	337389	312052	286897	260889	257574
NII	229226	203814	185799	174495	160123
DIF %4	2292	12.47	23.37	31.37	43.16
Employees Cost	69418	65616	57673	53179	62917
Other Operating Expenses	42303	40654	37063	43272	36676
Operating Expenses	111721	106270	94736	96451	99593
Operating Profit	185120	165674	152787	154733	126495
DIFF %5	1851	11.74	21.16	19.64	46.35
Provisions	30406	18549	25133	37733	24249
Tax Expense	47826	45195	41738	34517	18997
Net Profit	106888	101930	85916	90628	83249
DIFF %5	1069	4.86	24.41	17.94	28.4
Face Value (in Rs.)	10	10	10	10	10
Dividend (%)	-	-	-	150	-
Capital Adequacy Ratio	11.68	12.34	12.35	12.84	14.3
Basic EPS	29.34	27.98	23.59	24.88	22.85
Gross/Net NPA	74424	73129	71733	60232	48768
% of Gross/Net NPA	0.36	0.38	0.39	0.34	0.31
Return on Assets	1.34	1.34	1.19	1.37	1.36
Public holding (%)	46.19	46.19	46.19	46.19	46.19

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