BANKBARODA · Financial Services
Bank of Baroda reported total income of ₹32,820 cr for January to March 2025, +5.6% on the year and +0.8% on the quarter. It is the highest quarterly income in the last 8 quarters on record. Over the last four quarters income comes to ₹1.28 lakh cr, +8.5% on the four before.
Net interest income, interest earned less interest paid, was ₹12,547 cr, −1.7% on the year and +1.0% on the quarter. For a lender this is the core earnings line: it shows whether the loan book and its pricing are growing faster than the cost of funds.
Net profit was ₹5,447 cr, +5.6% on the year and +3.8% on the quarter, with earnings per share of ₹10.48. The tax rate was 23% against an average of 28% over the previous 7 quarters, which lifted profit this quarter. Profit over the last four quarters totals ₹20,866 cr, +10.6% on the four before.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹29,263 cr | ₹30,042 cr | ₹31,072 cr | ₹31,143 cr | ₹31,902 cr | ₹32,570 cr | ₹32,820 cr | ₹32,866 cr | ₹33,318 cr | ₹33,600 cr | ₹34,514 cr | ₹35,115 cr |
| YoY | — | — | — | +11% | +9% | +8% | +6% | +6% | +4% | +3% | +5% | +7% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 28% | 27% | 29% | 28% | 27% | 26% | 23% | 35% | 24% | 23% | 7% | 29% |
| Net profit | ₹4,426 cr | ₹4,815 cr | ₹5,160 cr | ₹4,764 cr | ₹5,405 cr | ₹5,250 cr | ₹5,447 cr | ₹3,517 cr | ₹5,181 cr | ₹5,501 cr | ₹5,872 cr | ₹1,839 cr |
| YoY | — | — | — | +7% | +22% | +9% | +6% | −26% | −4% | +5% | +8% | −48% |
| EPS | ₹8.50 | ₹9.26 | ₹9.92 | ₹9.14 | ₹10.36 | ₹10.08 | ₹10.48 | ₹6.71 | ₹9.93 | ₹10.53 | ₹11.22 | ₹3.45 |
| Flags | · | · | · | · | · | · | · | · | · | · | 1 | · |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Bank of Baroda reported total income of ₹32,820 cr (+5.6% on the year) and net profit of ₹5,447 cr (+5.6% on the year) for January to March 2025.
None of the 3 checks that could run raised a question.
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