Bank of Baroda shares, which were trading marginally higher ahead of quarterly results, rose 2.53 to hit a high of Rs 188.45 on BSE. The stock hit a 52-week high of Rs 197.20 in December last year. 
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Bank of Baroda shares, which were trading marginally higher ahead of quarterly results, rose 2.53 to hit a high of Rs 188.45 on BSE. The stock hit a 52-week high of Rs 197.20 in December last year. Shares of Bank of Baroda climbed 3 per cent in a reaction to a strong set of quarterly results for the quarter amid a sharp fall in provisions. The stock also gained on dividend announcement by the state-run lender. The PSU bank logged 168.4 per cent YoY growth in net profit at Rs 4,775 crore for the March quarter compared with Rs 1,779 crore in the same quarter last year. Analysts were largely expecting a profit growth of 140 per cent for the quarter.
Net interest income (NII) for the quarter grew 33.8 per cent YoY to Rs 11,525 crore from Rs 8,612 crore in the year-ago quarter. Non-interest income was up 37.4 per cent YoY to Rs 3,466 crore from Rs 2,522 crore YoY, the Vadodara-headquartered bank said.
The stock, which was trading marginally higher ahead of quarterly results, rose 2.53 to hit a high of Rs 188.45 on BSE. The scrip hit a 52-week high of Rs 197.20 in December last year.
Total provisions for the quarter fell 62 per cent YoY to Rs 1,421 crore from Rs 3,736 crore. Provisions in the December quarter stood at Rs 2,404 crore. Global NIM for the quarter stood at 3.53 per cent in Q4FY23, up 45 basis points YoY. Domestic NIM stands was up 51 basis points YoY at 3.65 per cent.
The bank said its gross NPA fell 32 per cent YoY to Rs 36,764 crore in the quarter, with the Gross NPA ratio improving to 3.79 per cent from 6.61 per cent YoY.The provision coverage ratio stood at 92.43 per cent.
"The lender's Board recommended a dividend at Rs 5.50 (Rupees Five and Fifty Paise only) per equity share (Face Value Rs 2 each fully paid up) for the FY 2022-23 subject to declaration/approval at the ensuing 27th Annual General Meeting," BoB stated in an exchange filing.
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