Bank of Baroda extends fall by 4% on rising NPA

Bank of Baroda is trading lower by 4% at Rs 759, extending its Wednesday’s over 1% fall after the bank said that its net non-performing assets (NPAs) rose to 0.51% in December from 0.36% on year ago. The bank had NPA at 0.47% of loans disbursed at the end of September.

India’s third-largest public sector bank has reported 20.7% year-on-year (y-o-y) growth in net profit at Rs 1,290 crore, backed by a 39% rise in total income at Rs 8,821 crore during the recently concluded quarter.

Net interest margin (NIM), a key gauge of profitability, was at 3.51%, narrower than 3.82% in the year earlier due to higher provisioning. Provisions rose 175% to Rs 837 crore in December quarter.

 

A combined 683,384 shares have changed hands on the counter so far on the NSE and BSE.