New Delhi, Oct. 31 -- State owned Bank of Baroda announced its financial performance for the September quarter, today, October 31, post market hours, reporting an 8.2% year-on-year drop in its net profit at Rs.4,809 crore in Q2, compared with Rs.5,238 crore in the same period last year.

The decline was mainly driven by a steep 32% drop in non-interest income, which fell to Rs.3,515 crore from Rs.5,166 crore a year ago.

Meanwhile, net interest income (NII) saw a modest rise of 2.7% year-on-year to Rs.11,954 crore, up from Rs.11,637 crore in Q2FY25. Operating profit slipped 20.1% to Rs.7,576 crore, compared with Rs.9,477 crore in the previous year.

(more to come)

Published by HT Digital Content Services with permission from MINT....