Bank of Baroda's Q2FY17 standalone net profit rises 345.16% yoy to Rs.552 crore : Beats Estimates

India Infoline Research Team | November 11, 2016 18:18 IST

Bank of Baroda Q2FY17

Standalone Results Q2FY17: (Rs. in crore)

Q2FY17 YoY (%)
NII 3,426 5.6
NPA (%) 11.4 579
Provisions 1,630 [11.6]
Net Profit (adjusted) 552 345.2
***NPA change is bps

Bank of Baroda’s Q2FY16 standalone NII for the period came in at Rs 3,426 cr registering a 5.6% yoy increase due to interest expended falling 11% yoy against a 6% yoy drop in interest earned.

Gross NPA’s for the period were Rs 42,949 cr leading to a 579 bps worsening of asset quality. Thereby, Gross NPA as a percentage of Gross Advances stood at 11.4%.

Provisions for bad loans decreased 11.6% yoy to Rs 1,630 cr.

Also, the bank reported a net profit of Rs 2,552 cr for the quarter, recording a yoy improvement of an impressive 345.2%. This was due to both, the lower provisioning during the quarter and a 36% yoy increase in other income.

Technical View:

Bank of Baroda ended at Rs. 163, down by 1.8 points or 1.09% from its previous closing of Rs. 164.8 on the BSE.
The scrip opened at Rs. 165 and touched a high and low of Rs. 170 and Rs. 158.8 respectively. A total of 18785948(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.

BSE 180.55 0.05 (0.03%)
NSE 180.65 0.30 (0.17%)

***Note: This is a NSE Chart



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