State-owned lender Bank of Baroda on Saturday reported a standalone net profit of Rs 1,208 crore for the quarter ending June 30, 2021. The lender had posted a loss of Rs 864 crore in the year-ago period (Q1FY21) and Rs 1,046 crore in the previous quarter (Q4FY21).
BoB's net interest income (NII) --- the difference between interest earned and interest expended --- increased 15.7 per cent to Rs 7,892 crore in the first quarter as compared to Rs 6,816 crore in the year earlier period.
The Bank’s gross non-performing assets (NPAs) stayed flat sequentially at 8.86 per cent in Q1FY22. In Q4FY21, gross NPAs of the bank were at 8.87 per cent. Meanwhile, net NPAs stood at 3.03 per cent.
Provisions (other than tax) and contingencies for the reporting quarter stood at Rs 4,111 crore, down 23 per cent from Rs 5,349 crore in the last year period.
On Friday, the lender's scrip rose 1.27 per cent to close at 83.5 on NSE.
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