Bank of Baroda Q4 results: PAT more than doubles, board announces Rs 5.5 dividend

Bank of Baroda Q4 results: The bank recommended a dividend at Rs. 5.50 (Rupees Five and Fifty Paise only) per equity share (Face Value Rs.2/- each fully paid up) for the FY2022-23, subject to declaration/approval at the ensuing 27th Annual General Meeting.

Bank of Baroda Q4 results: GNPA Ratio (%) fell by 282 bps as the NPA went from 6.61 in the last quarter of FY 2022 to 3.79 in this quarter of 2023.

Bank of Baroda, one of the leading public sector banks, released its March quarter numbers on May 16, 2023. The lender reported a jump in net profit by more than 2 times to Rs 4,775.33 crore on a Y-O-Y basis. The profit in the corresponding quarter of the previous fiscal stood at Rs 1,778.7 crore.

The bank recommended a dividend at Rs. 5.50 (Rupees Five and Fifty Paise only) per equity share (Face Value Rs.2/- each fully paid up) for the FY2022-23, subject to declaration/approval at the ensuing 27th Annual General Meeting.

The profit numbers have surpassed the estimates of the analysts this time. Standalone Profit which was estimated at Rs 4070 Crore, stood at Rs 4780 Crore. The standalone profit is also up by more than 2.6 times as it is up from Rs 1779 Crore to Rs 4780 Crore on a y-o-y basis.

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GNPA Ratio (%) fell by 282 bps as the NPA went from 6.61 in the last quarter of FY 2022 to 3.79 in this quarter of 2023. The net NPA has gone down by more than 37 per cent as the net NPA fell from Rs 13,365 crore in Q4 FY22 to Rs 8,384 crore in this quarter. Net NPA Ratio (%) that stood at 1.72 in the same quarter the previous year now stands at 0.89 in this quarter.

The bank said that the bank has recorded a record jump in profit in this quarter.

Net interest margin, which is a measure of the difference between the interest income generated by banks or other financial institutions and the amount of interest paid out to their lenders, was up from 3.37 per cent to 3.53 per cent (YoY).

The share price of the stocks went up by 1.7 per cent immediately after the declaration of the results. The share price that stood at Rs 184.70 at 1:20 pm surged to Rs 188 after the results. The price opened at Rs 185.40 on Tuesday and touched a high of Rs 188.50 till 2:30pm.

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