Bank of Baroda shares jump over 5 pc on higher Q2 earnings

Shares of Bank of Baroda on Monday rose over 5 percent on the back of a 73.2 percent jump in its September-quarter net profit. The scrip jumped 5.43 percent to Rs 98.90 on the BSE.

On the National Stock Exchange (NSE), it climbed 5.43 percent to Rs 98.90. State-owned Bank of Baroda on Friday reported a jump of 73.2 percent in its net profit to Rs 736.68 crore in the second quarter ended September 30.

The bank had posted a net profit of Rs 425.38 crore in the corresponding quarter of the previous financial year. Its total income rose to Rs 22,097.91 crore for the second quarter of 2019-20, compared with Rs 13,429.95 crore a year ago, the bank said in a regulatory filing.

The lender improved on its bad assets, with gross non-performing assets (NPAs) coming down to 10.25 percent (Rs 69,968.95 crore) of the gross advances by the end of September 2019, compared with 11.78 percent (Rs 55,121.37 crore) in the year-ago period.

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