Bank of Baroda reports 28.4% rise in Q2 net profit

Bank of Baroda reported a 28.4% jump in net profit for the July-September quarter on Saturday, led by robust loan growth.

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The public sector bank’s net profit rose to ₹42.53 billion ($511.55 million) in its second quarter, from ₹33.13 billion a year ago.

That was higher than analysts’ forecast of ₹40.04 billion , according to LSEG data.

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Net interest income – the difference between a bank’s interest earned and paid – rose 6.5% to ₹108.31 billion.