Bank of Baroda Q3 Results: Net profit rises 6% YoY to ₹4,837 crore

Bank of Baroda Q3 Results: State-run Bank of Baroda (BoB) on Thursday reported a 5.6% year-on-year (YoY) rise in its standalone net profit for the fiscal's third quarter ended December (Q3FY25) to ₹4,837 crore. The company had reported a profit of ₹4,579 crore in the year-ago period.

The net interest income (NII) during the quarter under review witnessed a 2.8% uptick to ₹11,417 crore from ₹11,101 crore in the same period last fiscal.

On a sequential basis, however, profit witnessed a decline of 7.6% from ₹5,238 crore posted in the preceding quarter. The NII, too, declined by 1.76% quarter-on-quarter (QoQ) from ₹11,622 crore posted in Q2 FY25.

Bank of Baroda reported an increase in total income for the third quarter of the current financial year, rising to ₹34,676 crore compared to ₹31,416 crore in the same period last year.

Operating profit rose to ₹7,664 crore, up from ₹7,015 crore in the third quarter of the last fiscal year. Concerning asset quality, the bank's gross non-performing assets ratio improved to 2.43% compared to 3.08% a year earlier.

Non-performing asset's (NPA's)

Likewise, net NPAs, or bad loans, decreased to 0.59% from 0.7% at the conclusion of the third quarter of the prior fiscal year. Nevertheless, overall provisions, excluding taxes, increased to ₹1,082 crore during the quarter, up from ₹666 crore a year earlier. The Capital Adequacy Ratio fell to 14.72% from 15.96% at the end of the third quarter of the previous financial year.

Additionally, the Mumbai-based bank's Global Advances experienced an increase of 11.8% year-over-year in Q3FY25, fueled by strong growth in the retail loan portfolio. The bank's organic Retail Advances saw a rise of 19.5%, supported by significant developments in key sectors such as Auto Loans (21.1%), Home Loans (16.6%), Mortgage Loans (16.3%), and Education Loans (16.9%).

On Thursday, Bank of Baroda share price closed flat at ₹222.45 apiece on the BSE.

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