Bank of Baroda Q4 Results: Stock tanks after NII miss; Slippages, write-offs rise

Shares of state-run lender Bank of Baroda Ltd. fell as much as 5% on Tuesday, May 6, in reaction to its results for the January-March quarter.

Net profit for the period stood at ₹5,048 crore, a growth of 3.2% from the same quarter last year. The number was higher than the CNBC-TV18 poll of ₹4,801.7 crore.

It must be noted that the profitability for the lender was aided by a higher other income component. Other income increased by 24% on a year-on-year basis to ₹5,210 crore.

Net Interest Income or the bank's core income declined by 6.6% from the year-ago quarter to ₹11,019 crore. A CNBC-TV18 poll had projected the figure at ₹11,678 crore.

Gross NPA during the quarter stood at 2.26% from 2.43% last quarter, while net NPA stood at 0.58% from 0.59% in the December quarter.

Total provisions during the March quarter stood at ₹1,552 crore, higher than the ₹1,082 crore during the December quarter.

Gross slippages at the end of the March quarter stood ₹3,159 crore from ₹2,915 crore during the December quarter. Write-offs also saw an increase in comparison to the December quarter to ₹1,662 crore from ₹1,167 crore.

Shares of Bank of Baroda are trading 8% lower on Tuesday post the results, at ₹229.45.