Bank of Baroda Sept quarter pre-tax profit zooms 184% to Rs 1,127 crore

The bank did not factor in the effect of deferred tax assets for this quarter. It will, however, do it before March 2020.

Public sector lender Bank of Baroda’s profit before tax (PBT) rose 184 per cent to Rs 1,127 crore for the September 2019 quarter (Q2FY20).

This figure is for the amalgamated entity (standalone basis). The three-way merger of Bank of Baroda, Vijaya Bank, and Dena Bank came into effect during the previous quarter (Q1FY20).

The comparable PBT for Q2FY19 was Rs 397 crore. Net profit of the amalgamated entity rose 394.6 per cent to Rs 739 crore for Q2FY20. Net profit for Q2FY18 stood at Rs 149 crore.

Shares of Bank of Baroda closed at Rs 93.80 apiece on the BSE, down 2.39 per