State-run lender Bank of Baroda on Saturday reported a net profit of Rs 1,208.63 crore for the quarter ended June 30, beating Street estimates. For the corresponding period a year ago, the bank had reported a net loss of Rs 864.26 crore.Bank of Baroda's total income declined 1.43 percent on a year-on-year basis to Rs 20,022.42 crore in the first quarter of the current financial year, according to a regulatory filing.Its net interest income (NII) -- the difference between the interest earned and the interest expended -- came in at Rs 7,891.67 crore in the June quarter. That marked a year-on-year rise of 15.78 percent.Analysts in a CNBC-TV18 poll had estimated the lender's net profit at Rs 1,179.1 crore and NII at Rs 7,563.5 crore.Bank of Baroda's operating profit rose 32.1 percent on a year-on-year basis to Rs 5,707.4 crore. & vs Rs6265.6cr, down 8.9%QOQIts global net interest margin (NIM) -- a key metric -- increased to 3.04 percent in the quarter ended June 30 from 2.52 percent in the year-ago period, led by domestic margins, it said in a press release.The domestic margins rose to 3.12 percent from 2.59 percent in the year-ago period, it said.The lender's net non-performing assets were at 20,259.97 crore in the April-June period, as against Rs 21,799.88 crore in the previous quarter, and Rs 19,449.68 crore in the three months to June 30, 2020.The bank's gross NPAs as a percentage of total loans stood at 8.86 percent at the end of June 2021, as against 8.87 percent at the end of March, and 9.39 percent at the end of June 2020.Provisions came in at Rs 386.8 cr in the quarter ended June 2021, as against Rs 3,726.1 crore in the previous quarter, and Rs 443.5 crore in the three months to June 2020.On Friday, Bank of Baroda shares had ended 1.03 percent higher at Rs 83.35 apiece on BSE, outperforming the benchmark S&P BSE Sensex index, which declined 0.39 percent at 54,277.72 to put an end to a four-day winning streak.
First Published: IST
Bank of Baroda Q1 results: Net profit at Rs 1,209 crore, beats Street estimates; NII up 16% YoY - CNBCTV18
Read More
No comments:
Post a Comment