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HomeMarketStocksBank of Baroda Q2 Results: Profit rises 59% to Rs 3,313 crore

Bank of Baroda Q2 Results: Profit rises 59% to Rs 3,313 crore


State-owned on Saturday reported a soar of 59 per cent in its internet revenue to Rs 3,313 crore for the second quarter ended September on the again of a decline in dangerous loans and rise in curiosity earnings. The lender had posted a internet revenue of Rs 2,088 crore within the corresponding quarter of the earlier fiscal.

Its whole earnings rose to Rs 23,080.03 crore for the second quarter of 2022-23, in comparison with Rs 20,270.74 crore a yr in the past, it stated in a regulatory submitting.

Web curiosity earnings grew by 34.5 per cent to Rs 10,714 crore.

The lender improved its asset high quality, with the gross non-performing belongings (NPAs) coming down to five.31 per cent of the gross advances by the top of September 2022, from 8.11 per cent within the year-ago interval.

Web NPAs fell to 1.16 per cent from 2.83 per cent.

Consequently, provisions for dangerous loans and contingencies declined to Rs 1,627.46 crore for the quarter from Rs 2,753.59 crore a yr in the past.

Web curiosity margins rose to three.33 per cent on the finish of September 2022.

Capital adequacy ratio declined to fifteen.25 per cent from 15.55 per cent on the finish of September 2021.

On a consolidated foundation, Financial institution of Baroda group’s internet revenue elevated to Rs 3,400 crore as in opposition to Rs 2,168 crore in the identical interval a yr in the past.



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