Stocks

Bank of Baroda shares gain over 3 per cent on higher Q2 earnings

PTI New Delhi | Updated on November 11, 2019 Published on November 11, 2019

Shares of Bank of Baroda on Monday rose by over 3 per cent on the back of a 73.2 per cent jump in its September quarter net profit.

The scrip closed the day with a gain of 2.88 per cent at Rs 96.50 on the BSE. During the day, it climbed 5.43 per cent to Rs 98.90. At the NSE, shares went up 3.14 per cent to close at Rs 96.75.

In terms of traded volume, 25.66 lakh shares of the company were traded on the BSE during the day, while over 4 crore shares were traded on the NSE.

On Friday, the state-owned bank reported a 73.2 per cent jump in net profit at Rs 736.68 crore in the second quarter ended September 30. It had posted a net profit of Rs 425.38 crore in the corresponding quarter of the previous financial year.

Its total income rose to Rs 22,097.91 crore for the second quarter of 2019-20 as compared with Rs 13,429.95 crore a year ago, the bank said in a regulatory filing.

The lender improved on its bad assets, with gross non-performing assets (NPAs) coming down to 10.25 per cent (Rs 69,968.95 crore) of the gross advances by the end of September 2019 as compared with 11.78 per cent (Rs 55,121.37 crore) in the year-ago period.

Published on November 11, 2019
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