Bank of Baroda dips on decline in Q2 net profit

Stock was down 2% to Rs 934 after the bank reported a 5.5% dip in Q2 net profit at Rs 1,104

Bank of Baroda was down 2% to Rs 934 on the Bombay Stock Exchange (BSE) at 1035 hrs as the bank reported a 5.5% dip in Q2 net profit at Rs 1,104 compared to Rs 1,168 crore in the year-ago period.

Gross NPAs rose to 3.32% compared to 3.11% in the previous quarter.

The bank's net NPA came in at 1.74% compared to 1.58% q-o-q.

NII was at Rs 3,401 crore for the quarter ended 30 September, 2014 compared to Rs 2,895 crore in the same period last year.

Earlier in the day, the stock opened at Rs 955.5 and edged higher to Rs 959 which is also the high point for the scrip thus far.

As a kneejerk reaction to its Q2 numbers, the stock had slipped to a low of Rs 925, but quickly recovered.

A combined 350,000 shares changed hands on BSE and NSE.