India's Bank of Baroda reports 28.4% rise in Q2 net profit

MUMBAI: India's Bank of Baroda reported a 28.4% jump in net profit for the July-September quarter on Saturday, led by robust loan growth.

The state-run lender's net profit rose to 42.53 billion rupees ($511.55 million) in its second quarter, from 33.13 billion rupees a year ago.

That was higher than analysts' forecast of 40.04 billion rupees, according to LSEG data.

Net interest income - the difference between a bank's interest earned and paid - rose 6.5% to 108.31 billion rupees. ($1 = 83.1400 Indian rupees) (Reporting by Siddhi Nayak)


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