Bank of Baroda Ltd on Friday reported a net loss of Rs. 3,102 crore ($457.62 million) for the fourth quarter as India’s third-largest state-run lender booked higher provisions for bad loans.
That compared with a profit of Rs. 155 crore in the year-ago period and an average estimate of Rs. 5.72 crore loss in a Thomson Reuters poll of 15 analysts.
Gross bad loans as a percentage of total loans stood at 12.26 per cent at end-March, compared with 11.31 per cent in the previous quarter and 10.46 per cent a year ago.
