New Delhi: Bank of Baroda on Friday reported its highest-ever quarterly standalone net profit of Rs 6,532 crore for the second quarter of FY27, up about 36 per cent from Rs 4,809 crore a year earlier, helped by growth in net interest income and a near-doubling of other income, according to the bank's results and reporting by The Hindu BusinessLine and PTI.

Source: The Hindu BusinessLine

Net interest income rose 9 per cent year-on-year to Rs 13,026 crore from Rs 11,954 crore in Q2 of FY26. Other income, which includes fee income, treasury income and other non-interest income, soared 96 per cent to Rs 6,881 crore from Rs 3,515 crore, helped by the sale of 76.90 lakh equity shares of the National Stock Exchange through its initial public offering for a gross consideration of about Rs 1,372 crore.

Rs 6,532 croreQ2 FY27 standalone net profit — a record
36%Year-on-year profit growth
Rs 13,026 croreNet interest income, up 9%
1.78%Gross NPA ratio, down 38 basis points

Global deposits grew 16.4 per cent and global advances 18.3 per cent in the quarter. Excluding the effect of FCNR-B deposits — the bank mobilised $8.08 billion between June 8 and August 31 under the Reserve Bank of India's special foreign currency swap window — deposit growth was 11.2 per cent and advances growth 13.5 per cent. Managing Director and Chief Executive Debadatta Chand said the bank was raising its FY27 guidance to 11 to 13 per cent for deposits and 13 to 15 per cent for advances, and that it had a corporate loan pipeline of more than Rs 60,000 crore.

The record profit came despite much higher provisions. Provisions towards non-performing assets and bad debts written off rose to Rs 1,935 crore from Rs 883 crore a year earlier, including about Rs 1,300 crore of prudential provisioning as the bank prepares to migrate to the Expected Credit Loss framework. Chand said that if the prudential provisioning had not been made, profit would have been higher, and that the bank was buffering its balance sheet for the ECL migration.

Asset quality improved, with the gross NPA ratio falling 38 basis points year-on-year to 1.78 per cent and the net NPA ratio at 0.37 per cent, according to the bank's presentation. Operating profit rose 50.9 per cent to Rs 11,430 crore, PTI reported.