Bank of Baroda Q2 profit falls 8.2% as bad-loan ratio improves
BANKBARODA · price
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On the reaction day the stock moved 4.5 pts more than Nifty 100 and 3.4 pts more than its Public Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bank of Baroda reported standalone Q2 net profit of Rs 4,809 crore, down 8.2% year on year but up 5.9% from Q1. Half-year profit was Rs 9,351 crore, down 3.6%. Quarterly total income fell 1.2% to Rs 35,026 crore, and the operating margin fell to 21.63% from 26.74%. The gross bad-loan ratio improved to 2.16% from 2.50%, but the capital ratio fell to 16.54% from 17.61% in June. Auditors highlighted the family pension liability; the conclusion remained unmodified.
Mixed results: improving bad-loan ratios help, but lower profit, weaker margins and a lower capital ratio than in June may pressure the stock.