Quarterly Result: Bank of Baroda
Bhagyashree Vivarekar / 12 Nov 2016
Bank of Baroda ended at Rs. 163, down by 1.8 points or 1.09% from its earlier closing of Rs. 164.8 on the BSE.BoB has reported a net profit of Rs 2,552 cr for the quarter, recording a yoy expansion of a lucrative 345.2%.
Technical View:
Bank of Baroda ended at Rs. 163, down by 1.8 points or 1.09% from its earlier closing of Rs. 164.8 on the BSE.
The scrip touched a high and low of Rs. 170 and Rs. 158.8 respectively, after opening at 165. In totality 18785948(NSE+BSE) shares have been traded on the counter so far; and the stock is trading below its 50 DMA.
Standalone Results Q2FY17:
Bank of Baroda’s Q2FY16 standalone NII for the period has come in at Rs 3,426 cr registering a 5.6% yoy upsurge due to interest expended dropping 11% yoy against a 6% yoy dip in interest earned.
BoB's gross NPA’s for the period are Rs 42,949 cr leading to a 579 bps worsening of asset quality. Thereby, Gross NPA as a percentage of Gross Advances stands at 11.4%.
Provisions for bad loans have dipped 11.6% yoy to Rs 1,630 cr.
BoB has reported a net profit of Rs 2,552 cr for the quarter, recording a yoy expansion of a lucrative 345.2%. This can be attributed to the lower provisioning during the quarter and a 36% yoy upsurge in other income.
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