New Delhi, May 6
Bank of Baroda's shares fell sharply by 10.91 per cent on Tuesday after the public sector bank reported weak financial results for the March quarter (Q4 FY25).
Bank of Baroda reported 3.3 per cent year-on-year increase in net profit at Rs 5,048 crore in Q4, from Rs 4,886 crore in the previous quarter (Q3).
The muted increase in Bank of Baroda Q4 net profit was on the back of higher provisions and a weak net interest income (NII).
It reported net interest income (NII) at Rs 11,020 crore in Q4 FY25, down 6.6 per cent from Rs 11,793 crore reported in the year-ago period.
NII was weak even on a quarterly basis as it declined from Rs 11,417 crore seen in Q3 FY25.
The bank’s domestic net interest margin (NIM) dropped to 3.02 per cent from 3.11 per cent on a quarterly basis. The operating profit was flat at Rs 8,132 crore compared to Rs 8,106 crore reported in Q4 FY24.
The gross NPA of the bank reduced by 12.6 per cent YoY to Rs 27,835 crore in FY25 and gross NPA Ratio improved to 2.26 per cent in FY25 from 2.92 per cent in FY24.