Business Standard

Bank of Baroda reports 28.4% rise in Q2 profit led by robust loan growth

That was higher than analysts' forecast of Rs 4,004 crore, according to LSEG data

Bank of Baroda

Reuters Mumbai

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India's Bank of Baroda reported a 28.4% jump in net profit for the July-September quarter on Saturday, led by robust loan growth.

The state-run lender's net profit rose to Rs 4,253 crore ($511.55 million) in its second quarter, from Rs 3,313 crore a year ago.

That was higher than analysts' forecast of Rs 4,004 crore, according to LSEG data.

Net interest income - the difference between a bank's interest earned and paid - rose 6.5% to Rs 10,831 crore.

($1 = 83.1400 Indian rupees)

 

(Reporting by Siddhi Nayak)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Nov 04 2023 | 2:43 PM IST

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