Latest News | Bank of Baroda Shares Climb over 6 Pc as Q3 Profit Jumps

New Delhi, Feb 3 (PTI) Shares of Bank of Baroda (BoB) on Friday jumped over 6 per cent after the company reported a 75 per cent surge in standalone net profit for the December quarter.

The stock rallied 6.20 per cent to settle at Rs 163.65 apiece on the BSE. During the day, it jumped 6.65 per cent to Rs 164.35.

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On the NSE, it climbed 6.32 per cent to end at Rs 163.80 per share.

BoB on Friday reported a 75 per cent surge in standalone net profit at Rs 3,853 crore for the third quarter ended December 31, 2022 as bad loans declined.

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The state-owned bank had earned a net profit of Rs 2,197 crore in the year-ago period.

Total income during October-December 2022 increased to Rs 27,092 crore as against Rs 20,482 crore a year ago, the bank said in a regulatory filing.

On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 4.53 per cent as compared to 7.25 per cent at the end of the third quarter of 2021-22.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)