The state-run lender had posted a net profit of Rs 552.12 crore in the sequential quarter ended September 31, 2016.
Gross non-performing assets of Bank of BarodaBSE -6.46 % at 11.40 per cent spiked by 172 basis points on Y-o-Y basis but stood almost unchanged on Q-o-Q basis; however Net NPA has improved on both Y-o-Y (declined 24 bps) and Q-o-Q basis (declined 3bps).
According to a research report by KR Choksey, Q3FY17 stood a stable quarter for the bank in terms of asset quality and operating performance. Net profit at Rs 252 crore was largely led by lower provisioning, increase in non-interest income and controlled opex.
Provisions and contingencies dipped 66.26 per cent year-on-year to Rs 2079.50 crore in Q3FY17 over Rs 6164.55 crore in Q3FY16.