Private sector lender Bank of Baroda reported a 23% rise in net profit for the quarter ended September 2024. Profit climbed to Rs 5,238 crore in Q2 against Rs 4,253 crore in Q2 of the previous fiscal. Net interest income rose 7.3% to Rs 11,622 crore in the last quarter against Rs 10,831 crore in Q2 of the previous fiscal.
Gross NPAs in Q2 fell to 2.50% from 2.88% in June 2024 quarter.
Net NPAs slipped to 0.60% from 0.69% in the June 2024 quarter. Provisions for bad loans climbed to Rs 2,336 crore in Q2 against Rs 1,011 crore QoQ.
The earnings were announced after market hours on Friday. The lender's stock ended 2.26% lower at Rs 239.50. Market cap of the bank stood at Rs 1.23 lakh crore.