Bank of Baroda’s consolidated Q4 net profit jumps 158% to Rs 5,255 crore

Bank of Baroda Q4 Results: BoB's board has recommended a dividend of Rs 5.50 per equity share (Face Value Rs 2 each fully paid up) for FY23.

Bank of Baroda's profit after tax (PAT) on a standalone basis jumped 168 per cent to Rs 4,775.33 crore, from Rs 1,778.77 crore in Q4FY22. (File image)

Listen to this article

00:00

1x 1.5x 1.8x

Public sector lender Bank of Baroda on Tuesday reported a 158 per cent rise in its consolidated net profit to Rs 5,255.17 crore. The PSB’s net profit in the same quarter last year had stood at Rs 2,031.55 crore.

Bank of Baroda’s (BoB’s) profit after tax (PAT) on a standalone basis jumped 168 per cent to Rs 4,775.33 crore, from Rs 1,778.77 crore in Q4FY22.

The bank reported a rise of 41.78 per cent in the interest earned to Rs 27,077.32 crore in the March quarter, from Rs 19,097.17 crore a year ago.

Story continues below this ad

The bank’s net profit for the fiscal year 2023 increased 94 per cent to Rs 14,110 crore, as compared to Rs 7,272 crore in FY22.

The bank earned a total interest of Rs 25,856.68 crore in the quarter under review, up 42.3 per cent against Rs 18,173.61 crore in the same quarter last year.

BoB’s board has recommended a dividend of Rs 5.50 per equity share (face value Rs 2 each fully paid up) for FY23. The final dividend payout is subject to declaration/approval at the ensuing 27th Annual General Meeting.

BoB said its total deposits jumped 15.1 per cent YoY in FY23 to Rs 12.03 trillion.

Story continues below this ad

Meanwhile, its asset quality profile improved as gross non-performing assets (NPA) declined to 3.79 per cent in March from 6.61 per cent in the same month in 2022.