Public sector lender Bank of Baroda on Wednesday reported over 24 per cent rise in its net profit at Rs 2,088 crore in quarter ended September 2021. The bank had posted a net profit of Rs 1,679 crore in the year-ago period.
However, the bank's total income during the July-September quarter of 2021-22, fell to Rs 20,270.74 crore, as against Rs 20,729.31 in the same period of 2020-21, Bank of Baroda said in a regulatory filing.
The total interest income was also down by 6.33 per cent to Rs 16,692 crore, as against Rs 17,820 crore in the year-ago quarter. The non-interest income rose by 23 per cent to Rs 3,579 crore, from Rs 2,910 crore.
There was improvement on the quality of the assets, as the gross non-performing assets (NPAs) fell to 8.11 per cent of the gross advances as of September 30, 2021 from 9.14 per cent in the year-ago period.
However, the net NPAs rose slightly to 2.83 per cent, from 2.51 per cent. The provisioning for bad loans and contingencies for the quarter fell to Rs 2,753.59 crore, as against Rs 2,811.05 crore.
Shares of Bank of Baroda closed at Rs 100.65 apiece on BSE, down by 5.36 per cent from the previous close.
(With inputs from PTI)
