Bank of Baroda Q2 net profit jumps 127% to Rs 1,679 crore; NII rises 7%

Public sector lender Bank of Baroda has more than doubled its second-quarter net profit at Rs 1,679 crore on the back of lower provisions and a stable net interest income.

In the corresponding period of the previous financial year (Q2FY20), the bank had reported a net profit of Rs 737 crore, while it logged a net loss of Rs 864 crore in the previous quarter.

Net interest income rose almost 7 per cent to Rs 7,508 crore, compared to Rs 7,028 crore in Q2Fy20. It reported a net interest margin of 2.96 per cent, up 33 basis points from last quarter. Shares