Bank of Baroda stock gains despite a 48% fall in Q4 net to Rs598 cr

11 May 2015

1

State-run Bank of Baroda has reported a 48-per cent decline in its net profit to Rs598.35 crore for the quarter ended 31 March 2015 against a net profit of Rs1,157.27 crore in the fourth quarter of the previous fiscal (2013-14).

For the full year, BoB's net profit slipped 25 per cent, but the bank saw a marginal improvement in asset quality, the bank said in a BSE filing.

The stock market, however, welcomed Bank of Baroda's relatively better performance despite the profit fall, coming after a worse performance by Punjab National Bank that declared its results last week. The BoB stock zoomed 16 per cent today.

Total standalone income of the bank rose 4 per cent to Rs12,057.39 crore in January-March of 2014-15 from Rs11,614.85 crore in the similar quarter of the previous fiscal.

For the entire 2014-15 fiscal, BoB's standalone net profit fell 25 per cent to Rs3,398.43 crore, from Rs4,541.08 crore a year ago. Total income was up 9 per cent at Rs47,365.55 crore against Rs43,402.43 in the previous fioscal.

Consolidated net profit showed 22 per cent fall at Rs3,911.73 crore compared with Rs5,000.73 crore in 2013-14 fiscal.

Total income on a consolidated basis rose 9 per cent to Rs50,364.23 crore from Rs46,018.05 crore during the same period last fiscal.

Shares of the bank were trading 13.43 per cent up at Rs164.65 apiece on the BSE.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more