Q3 results: Bank of Baroda posts net loss of Rs 1,407 cr, shares decline 3%

Bank of Baroda (BoB) shares on Monday declined by over 3 per cent after the company reported a net loss of Rs 1,407 crore for December quarter.

Shares of the company fell 3.40 per cent to close at Rs 92.35 on the BSE. During the trade, it dropped 3.76 per cent to Rs 92.

At the NSE, it dipped 3.13 per cent to close at Rs 92.60.

On traded volume front, 14.50 lakh shares of the company were traded on the BSE and 4.4 crore shares on the NSE during the day.

State-owned Bank of Baroda on Friday reported a net loss of Rs 1,407 crore for the quarter ended December on account of higher provisioning for bad loans.

The bank had reported profit after tax of Rs 436 crore in the same period last year.

Provisions for bad loans rose 47 per cent to Rs 6,621 crore from Rs 4,505 crore last year.

Total provisions increased by 54 per cent to Rs 6,365 crore as against Rs 4,133 crore.

BoB amalgamated Dena Bank and Vijaya Bank with it from April 1, 2019.