Bank of Baroda Reports Better Than Expected Q4 Results: Stock Surges 10%

Updated: Monday, May 11, 2015, 11:13 [IST]

Shares in Bank of Baroda surged following a superb set of quarterly numbers with asset quality improving.

Bank of Baroda Reports Better Than Expected Q4 Results: Stock Surges 10%

The Bank posted a net profit of Rs 598.35 crores for the quarter ended March 31, 2015 as compared to Rs 1157.2 crores for the quarter ended March 31, 2014.

Gross non performing assets dropped to 3.72% from 3.85%, while net non performing asset dropped to 1.89 per cent from 2.11 in the previous quarter. The net interest income of the bank was placed at Rs 3,171 cr vs Rs 3,124 crores (year-on-year).

The capital adequacy ratio of the bank was placed at 12.60 per cent.

The results of Bank of Baroda come after a hugely disappointing set of results from Punjab National Bank which saw a huge surge in non performing assets.

The stock of Bank of Baroda was trading with huge gains of almost 10 per cent in trade at Rs 160 on the National Stock Exchange.

GoodReturns.in