Bank of Baroda share price tanked as much as 10 per cent in the early trade on Friday after the public-sector lender announced its results for the second quarter ended September 30, 2015 before market hours. The bank posted 88.72 per cent fall in net profit at Rs 124.48 crore for the quarter under review.
Bank of Baroda reported a net profit of Rs 1,104.22 crore in the corresponding quarter a year ago.
At 9.37 am, shares of Bank of Baroda were trading 4.61 per cent down at Rs 152.15 apiece. The scrip opened at Rs 159 and had touched a high and low of Rs 159 and Rs 143.55, respectively, in trade so far. Later, the scrip wiped of losses and closed 4.95 per cent up at Rs 167.40
The bank’s total income increased by 4.07 per cent to Rs 12,300.40 crore for the quarter under review from Rs 11,817.32 crore in the same quarter last year.
Gross non-performing assets (NPAs) of the bank have increased to 5.56 per cent for the quarter as against 3.32 per cent in the corresponding quarter previous year. Besides, bank’s net NPA stood at 3.08 per cent in Q2FY16.
In the past one year, Bank of Baroda shares slid 16.29 per cent to Rs 159.50 on November 5. Sensex declined 5.77 per cent during the same period.