Bank of Baroda’s Q3 net profit logs 6% uptick

31 Jan 2025 , 11:05 AM

Bank of Baroda announced its results for the third quarter ended December 2024, and stated that the company has recorded a growth of 5.6% y-o-y in its net profit. The net profit for the quarter under review was reported at ₹4,837 Crore against ₹4,579 Crore in the previous corresponding quarter. However, net profit reported a decline of 7.6% against ₹5,238 Crore in the previous quarter.
The company’s net interest income (NII) witnessed a growth of 2.8% y-o-y to ₹11,417 Crore against ₹11,101 Crore in Q3FY25. Whereas, NII declined 7.6% from ₹5,238 Crore in Q2FY25.
Bank of Baroda’s operational profit increased to ₹7,664 Crore in Q3FY25, from ₹7,015 Crore in the same period last year. In terms of asset quality, the bank’s gross non-performing assets (NPAs) ratio improved to 2.43% from 3.08% in Q3FY24.
The bank’s total income grew to ₹34,676 Crore in Q3FY25, against ₹31,416 Crore in the third quarter ended December 2023.
Furthermore, the bank also reported that its Net NPAs improved to 0.59% from 0.70% in the previous corresponding quarter.
The bank’s provisions excluding taxes grew to ₹1,082 Crore in Q3FY25, up from ₹666 Crore in the same period last year.
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