BoB posts Q4 net loss of Rs 1,047 cr due to rise in tax provisions

Excluding the impact of change in tax regime, the bank would have reported profit after tax of Rs 2,267 crore in Q4FY21

Public sector lender Bank of Baroda posted a net loss of Rs 1,047 crore in the fourth quarter ended March 2021 on sharp rise in tax provisions as it shifted to a new tax structure.

It had booked a net profit of Rs 506 crore in the quarter ended March 2020

For the full financial year of FY21, it posted a net profit of Rs 828 crore, up from Rs 546 crore in FY20.

In Q4FY21, its tax provisions were about Rs 3,726 crore as against tax write back of about Rs 2,289 crore in Q4FY20.

BoB, in a statement,