Bank of Baroda back in the black in Q2, reports net profit of Rs 1,679 cr

State-owned Bank of Baroda on Thursday reported a standalone net profit of Rs 1,678.6 crore for July-September quarter (Q2FY21) on the back of lower provisons. In the previous quarter of the current fiscal (Q1FY21), the lender had incurred a loss worth Rs 864.26 crore. On a yearly basis, PAT grew 128 per cent from Rs 736.6 crore.

On a consolidated basis, profit was Rs 1,771.22 crore for Q2FY21, as against a net loss of Rs 678.71 crore in the June quarter. In the year-ago period, however, consolidated net profit stood at Rs 853.41 crore. 

The numbers beat Street