(PTI) Shares of Bank of Baroda (BoB) on Friday jumped over 6 per cent after the company reported a 75 per cent surge in standalone net profit for the December quarter.
The stock rallied 6.20 per cent to settle at ₹163.65 apiece on the BSE. During the day, it jumped 6.65 per cent to ₹164.35.
On the NSE, it climbed 6.32 per cent to end at ₹163.80 per share.
BoB on Friday reported a 75 per cent surge in standalone net profit at ₹3,853 crore for the third quarter ended December 31, 2022 as bad loans declined.
The state-owned bank had earned a net profit of ₹2,197 crore in the year-ago period.
Total income during October-December 2022 increased to ₹27,092 crore as against ₹20,482 crore a year ago, the bank said in a regulatory filing.
On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 4.53 per cent as compared to 7.25 per cent at the end of the third quarter of 2021-22.