Bank of Baroda Shares Surge 4.50% on Q3 Earnings

New Delhi, Jan 31 (PTI) Shares of Bank of Baroda (BoB) on Wednesday climbed 4.50 per cent after the company posted a 19 per cent rise in net profit to Rs 4,579 crore for the third quarter ended December 2023.

The stock jumped 4.38 per cent to Rs 247.70 on the BSE. During the day, it rallied 5.28 per cent to reach its 52-week high of Rs 249.85.

At the NSE, it climbed 4.52 per cent to Rs 248.20.

The company's market valuation increased by Rs 5,378.22 crore to Rs 1,28,094.64 crore.

In volume terms, 18.51 lakh shares of the company traded at the BSE, and over 6.37 crore shares changed hands at the NSE during the session.

The bank had earned a net profit of Rs 3,853 crore in the same quarter a year ago.

Its Total income increased to Rs 31,416 crore during the quarter under review from Rs 27,092 crore in the same period last year, BoB said in a regulatory filing.

Its interest income rose to Rs 28,605 crore from Rs 23,540 crore in the third quarter of the previous fiscal.

The gross non-performing assets (NPAs) declined to 3.08 per cent of gross loans by the end of December 2023 from 4.53 per cent a year ago.

Similarly, net NPAs or bad loans came down to 0.70 per cent from 0.99 per cent at the end of the third quarter of the previous fiscal.