Public sector bank Bank of Baroda on Saturday reported a 28.4 per cent rise in net profit for the quarter ended September 2023 to Rs 4,253 crore as compared to the same quarter last fiscal. Its total income from operations increased by 39 per cent on year to Rs 32,033 crore.
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Its Net interest income (NII) grew by 6.5 per cent YoY to Rs 10,831 crore. NII is the amount of money earned from interest income minus the amount spent on interest payments or expenses. Operating profit for the quarter increased by 33 per cent on year to Rs 8,020 crore. The cost-to-income ratio reduced to 46.54 per cent from 49.74 per cent a year ago.
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Besides, its gross non-performing assets ratio, which measures the bad loans, stood at 3.32 per cent at the end of the September quarter, compared to 5.31 per cent a year ago and 3.51 per cent a quarter ago.
