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Bank of Baroda reports Q4 loss at Rs 32.3 bn

Publish Date13 May 2016
Expiry Date13 May 2018

Bank of Baroda, one of the leading public sector lenders, swung to a loss for the quarter ended March 2016. During the quarter, the bank reported a loss of Rs 32.30 billion compared with a profit of Rs 5.98 billion in the same quarter last year.

Total Income for the quarter rose 6.07% to Rs 127.89 billion, compared with Rs 121 billion for the prior year period. During the quarter, the bank's net interest income (NII) rose 5% at Rs 33.30 billion against Rs 31.71 billion y-o-y.

Operating margin for the quarter stood at 20.11% as compared to 22.34% for the previous year period. Operating Income for the quarter was Rs 25.72 billion, compared with Rs 26.93 billion in the previous year period.

Provisions in Q4FY16 increased to Rs 68.58 billion compared to Rs 61.64 billion on sequential basis and Rs 18.17 billion YoY. Gross NPA was up 4.1% at 9.99 percent versus 9.68% while net NPA was down 11% at 5.06% versus 5.67 percent q-o-q.

Earnings per share stood negative at Rs 14.02 compared with Rs 2.79 in same quarter last year.

Shares of the bank declined Rs 2.75, or 1.74%, to settle at Rs 154.95. The total volume of shares traded was 1,212,239 at the BSE (Friday).

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