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  1. #1
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    Default BoB's quarterly net profit up 17%

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    Bank of Baroda on Friday posted an increase of 17.3 per cent in net profit at Rs 1,518.18 crore for the fourth quarter ended March 31, on one-time tax gain of Rs 322 crore and higher fee income.

    The country's third largest public sector lender had posted a net profit of Rs 1,294.3 crore in the January-March quarter of 2010-11.

    Total income during the quarter rose by 25.8 per cent to Rs 9,016 crore from Rs 7,168.6 crore in the year-ago period.

    For the fiscal ended March, 2012, the bank reported an 18 per cent rise in net profit to Rs 5,007 crore compared to Rs 4,242.68 crore in 2010-11. The total income rose 34 per cent to Rs 33,096 crore, while net interest income rose 17.2 per cent to Rs 10,317 crore and net interest margin stood at 3.51 per cent for the year.

    "We have been able to post sound growth in the last fiscal despite economic challenges faced by the country in the form of industrial slowdown, high inflation and elevated interest rates," Chairman and Managing Director MD Mallya said.

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    dR Dazzler www.desirulez.net
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