Published on 28/01/2021 9:22:42 AM | Source: IANS

Bank of Baroda's Q3FY21 net profit at Rs 1,061 cr

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State-owned lender Bank of Baroda on Wednesday reported a net profit of Rs 1,061 crore for the third quarter of FY21.

The bank had posted a net loss of Rs 1,407 crore during the corresponding period of the previous fiscal.

On a consolidated basis, the net profit is at Rs 1,196 crore.

"Operating profit for Q3FY'21 is Rs 5,591 crore registering an increase of 12.77 per cent YoY and 0.70 per cent QoQ," the bank said in a statement.

The banking major's net interest income grew by 8.65 per cent to Rs 7,749 crore crore from Rs 7,132 crore reported during the like period of the previous fiscal.

"Domestic margins (NIM) increased to 3.07 per cent in Q3FY21 compared with 2.96 per cent in Q2FY21. Global NIM at 2.87 per cent compared with 2.86 per cent in Q2."

Besides, the gross NPA ratio reduced to 8.48 per cent as on December 31, 2020 against 10.43 per cent as on December 31, 2019.

Similarly, net NPA ratio reduced to 2.39 per cent as against 4.05 per cent as on December 31, 2019.