Bank of Baroda Q1 PAT falls 72 % to ₹1,278 crore on NMC settlement
Bank of Baroda reported a 72% decline in net profit for the first quarter due to a one-time settlement cost related to NMC Health. Despite this, the bank saw a 9.5% increase in net interest income and improvements in asset quality.
Why it matters
The report highlights how significant legal settlements can impact short-term financial performance even when core banking operations remain robust.
Bank of Baroda (BoB) net profit plummeted 72% to ₹1,278 crore after incurring a one-time cost of ₹5,700 crore due to the out-of-court settlement with the joint administrators of United Arab Emirates-based NMC Health. The net profit in the year-earlier period was ₹4,541 crore.
Despite the one-time cost, the lender increased its net interest income by 9.5% to ₹12,524 crore in the reporting quarter as against ₹11,435 crore in the prior corresponding quarter.
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