Shares of Bank of Baroda (BoB) today jumped nearly 9 per cent after the company posted four-fold rise in net profit for the quarter ended September.
The stock surged 8.49 per cent to settle at Rs 174.35 on BSE. During the day, it soared 10.17 per cent to Rs 177.05.
On NSE, it zoomed 8.59 per cent to end at Rs 174.30.
Led by the surge in the stock, the company's market valuation rose by Rs 3,146 crore to Rs 40,173 crore.
On the volume front, 42.13 lakh shares of the company were traded on BSE and over 4 crore shares changed hands at NSE during the day.
State-owned Bank of Baroda (BoB) on Friday posted four-fold rise in net profit at Rs 552.1 crore for the quarter ended on September 30, 2016, despite increase in bad loans.
The bank had reported a net profit of Rs 124.4 crore during the same period last fiscal.
Total income of the bank decreased to Rs 12,046.6 crore during the quarter, from Rs 12,300.4 crore in the year-ago period, BoB said in a statement.
During the quarter, gross non-performing assets (NPAs) more than doubled to 11.35 per cent as against 5.56 per cent in the same period of previous fiscal.
Net NPAs too moved up significantly to 5.46 per cent from 3.08 per cent in the year-ago period.
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