Bank of Baroda plunges on weak Q2 earnings

Shares of Bank of Baroda have plunged almost 4% to Rs 153.50 on the NSE after the bank’s net profit fell by almost 90% to Rs 124.48 crore on 4.09% increase in total income to Rs 12300.40 crore in Q2 September 2015 over Q2 September 2014.

Bank of Baroda's gross non-performing assets (NPA) edged higher to Rs 23710.33 crore as on 30 September 2015 from Rs 17273.95 crore as on 30 June 2015 and Rs 13057.57 crore as on 30 September 2014.

The bank's ratio of gross NPAs to gross advances stood at 5.56% as on 30 September 2015, compared with 4.13% as on 30 June 2015 and 3.32% as on 30 September 2014.

The bank's ratio of net non-performing assets (NPAs) to net advances stood at 3.08% as on 30 September 2015, compared with 2.07% as on 30 June 2015 and 1.74% as on 30 September 2014.

The stock opened at Rs 158.50 and touched a low of Rs 137.15 on the NSE. More than 16 million shares have changed hands on the BSE and NSE so far.