Gross bad loans as a percentage of total loans came in at 11.16% at end-September. Photo: MintState-run Bank of Baroda Ltd reported a 36% fall in second-quarter net profit on Tuesday, hurt by higher provisions for bad loans. Net profit dropped to Rs355 crore for the quarter ended 30 September, from Rs552 crore a year earlier, India’s fifth-largest bank by assets said. Analysts on average had expected a net profit of Rs474 crore, Thomson Reuters data showed. Gross bad loans as a percentage of total loans came in at 11.16% at end-September, compared with 11.40% in the previous quarter, and 11.35% a year earlier.

Source: Mint November 14, 2017 11:15 UTC