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Bank of Baroda Q4FY23: PAT more than doubled in Q4FY23; lender declares ₹5.5 dividend
Public sector lender Bank of Baroda (BOB), on May 16, reported a strong jump in its March quarter profit at ₹4,775.33 crore. In a BSE filing, the company said its standalone profit after tax (PAT) for Q4FY23 more than doubled to ₹4,775.33 crore against a profit of ₹1,778.77 in the corresponding quarter last year. The bank earned a total interest of ₹25,856.68 crore in the quarter under review, up 42.3 per cent against ₹18,173.61 crore in the same quarter last year. The bank's pre-provision operating profit (PPOP) for the quarter stood at ₹8,072.88 crore, up 43.3 per cent from ₹5,635.14 crore year-on-year (YoY). The bank's operating profit margin improved to 27.53 per cent in Q4FY23 against 27.23 per cent YoY. The bank declared a dividend at ₹5.50 per equity share of the face value of ₹2 each fully paid up for the FY23. The bank said its return on assets (RoA) for FY23 improved by 43 bps YoY to 1.03 per cent (FY23) while RoA for Q4FY23 improved by 77 bps YoY to 1.34 per cent. Source -Mint
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