The net profit of Bank of Baroda rose 88% year-on-year in April-June owing to a growth in its net interest income.
The public sector bank posted a bottomline of `4,070 crore in the quarter under review. The net profit was lower than `4,775 crore in the March quarter.
Net interest income, difference between interest earned and interest expended rose 24.4% year-on-year to `10,997 crore in the quarter under review. The bank’s net interest margin rose to 3.4% in April-June from 3.07% a year ago.
The net interest income was lifted by a growth in the bank’s advances.
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