• NSE
Partner with US Open an Demat Account EIPO Mutual Fund Portfolio Tracker

News Details

03/02/2023 16:30

Bank of Baroda Q3 net profit jumps 75.36% at Rs 3852.74 cr

The bank reported standalone net profit of Rs 3,852.74 crore for the quarter ended December 31, 2022 as compared to Rs 2197.03 crore in the same period last year, registering a year-on-yearÿgrowthÿof 75.36 per cent.

Interest income of the bank rose by 31.05 per cent at Rs 23540.14 crore for the quarter ended December 31, 2022 as against Rs 17963.00 crore in the corresponding period last year.

During the October-December quarter, total income rose substantially by 32.27 per cent to Rs 27,092.09 crore from Rs 20,482.26 crore in the year ago period.

Meanwhile, operating expenses increased by 25.74 per cent to Rs 18,859.90 crore from Rs 14,998.93 crore in the same period last year.

Operating profit surged 50.13 per cent to Rs 8,232.19 crore from Rs. 5,483.33 crore.

Provisions and Contingencies slipped by 4.11 per cent at Rs 2,403.93 crore from Rs 2,507.04 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 26.50 per cent at Rs 10,818.31 crore versus Rs 8,552.03 crore in the year ago period. Non-interest income rose 40.99 per cent year-on-year to Rs 3,551.95 crore.

On the asset side, gross non- performing assets (NPAs)ÿfellÿto 4.53 per cent of the gross advances as at the end of December 31, 2022 from a level of 7.25 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 0.99 per cent of net advances on December 31, 2022 from 2.25 per cent a year ago.