Bank of Baroda results disappoint; stock tanks

Bank of Baroda has reported a disappointing set of numbers for Q3 FY 13 with net profits of Rs 1012 crores as against Rs 1289.8 crores reported in the corresponding period of last year.

Gross NPA at the bank shot up to 2.41 per cent, as on December 31, 2012. The provision coverage ratio as on December 31, 2012 stood at 70.9 per cent.

The bank plans to raise Rs 860 crores through issue of shares to the government. The Bank's capital adequacy ratio stood at 12.66 per cent.

The stock of Bank of Baroda was down 5.5 per cent on the Bombay Stock exchange and was last trading at Rs 820.

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