Provisions remained elevated in Q4 at Rs 5,399.3 crore against Rs 2,794.2 crore in previous quarter and Rs 6,672 crore in corresponding period last year.
Public sector lender Bank of Baroda narrowed its fourth quarter FY19 net loss to Rs 991.4 crore from Rs 3,102.3 crore in the same period last year on elevated provisions. The loss was despite higher NII, other income and operating profit.
Net interest income grew 26.6 percent year-on-year (YoY) to Rs 5,067 crore in the January-March quarter.
Provisions remained elevated in Q4 at Rs 5,399.3 crore against Rs 2,794.2 crore in the previous quarter and Rs 6,672 crore in the corresponding period last year.
However, asset quality improved with gross non-performing assets (GNPA) as a percentage of gross advances (Rs 48,232.8 crore) falling to 9.61 percent in Q4 against 11.01 percent (Rs 53,184.3 crore) in December quarter.
Net NPA also came in lower at 3.33 percent (Rs 15,609.5 crore) during the quarter against 4.26 percent (Rs 19,130.5 crore) in the previous period.
Fresh slippages for the quarter stood at Rs 3,192 crore.Other income (non-interest income) grew by 16 percent YoY to Rs 1,970 crore and operating profit increased by 45 percent to Rs 3,860.8 crore in the quarter ended March 2019.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.