Bank of Baroda shares jump over 5% to Rs 98.90 on back of 73% surge in September-quarter net profit

State-owned Bank of Baroda on Friday reported a jump of 73.2 percent in its net profit to Rs 736.68 crore in the second quarter ended 30 September.

Press Trust of India November 11, 2019 12:35:27 IST
Bank of Baroda shares jump over 5% to Rs 98.90 on back of 73% surge in September-quarter net profit
  • On the National Stock Exchange, Bank of Baroda shares climbed 5.43% to Rs 98.90

  • The bank's total income rose to Rs 22,097.91 crore for the second quarter of 2019-20, compared with Rs 13,429.95 crore a year ago

  • The lender improved on its bad assets, with gross NPAs coming down 10.25% to Rs 69,968.95 crore of the gross advances by the end of September 2019

New Delhi: Shares of Bank of Baroda on Monday rose over 5 percent on the back of a 73.2 percent jump in its September-quarter net profit.

The scrip jumped 5.43 percent to Rs 98.90 on the BSE.

Bank of Baroda shares jump over 5 to Rs 9890 on back of 73 surge in Septemberquarter net profit

Representational image. Reuters.

On the National Stock Exchange (NSE), it climbed 5.43 percent to Rs 98.90.

State-owned Bank of Baroda on Friday reported a jump of 73.2 percent in its net profit to Rs 736.68 crore in the second quarter ended 30 September.

The bank had posted a net profit of Rs 425.38 crore in the corresponding quarter of the previous financial year.

Its total income rose to Rs 22,097.91 crore for the second quarter of 2019-20, compared with Rs 13,429.95 crore a year ago, the bank said in a regulatory filing.

The lender improved on its bad assets, with gross non-performing assets (NPAs) coming down to 10.25 percent (Rs 69,968.95 crore) of the gross advances by the end of September 2019, compared with 11.78 percent (Rs 55,121.37 crore) in the year-ago period.

Net NPAs fell to 3.91 per cent (Rs 24,894.38 crore) from 4.86 per cent (Rs 21,059.22 crore).

However, the bank raised the provisions for bad loans and contingencies to Rs 4,209.16 crore for the quarter, from Rs 2,429.54 crore a year ago.

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