Mumbai, (IANS) : Government-owned Bank of Baroda on Thursday said it closed the first quarter of the current fiscal with net profit of Rs 423.62 crore.

In a regulatory filing in BSE, the bank said it has posted a net profit of Rs 423.62 crore for the quarter ended June 30, 2016 as compared to Rs 1,052.15 crore for the quarter ended June 30, 2015.

Bank of Baroda’s total income decreased from Rs 12,243.72 crore for the quarter ended June 30, 2015 to Rs 11,877.91 crore for the quarter ended June 30, 2016.