Bank of Baroda stock slides over 7% on disappointing Q4 performance

Bank of Baroda stock fell over 7% in early trade after the bank reported a loss of Rs 3,230.14 crore for the January-March quarter due to heavy provisions for bad assets.

At 1015 hours on Monday, Bank of Baroda's stock was dealing at Rs 143.65, down Rs 11.30 or 7.29% on the BSE and on the National Stock exchange it was trading at Rs 143.05, down Rs 12.05 or 7.77%.

This is the second record loss for Bank of Baroda. In December, the bank posted a loss of Rs 3,342.04 crore which is the highest quarterly loss by a bank. However, the bank had then said that NPA troubles were behind it. 

It's total income rose to Rs 12,789 crore in the March quarter from Rs 12,057 crore in the year-ago period.

The provisions for bad assets zoomed up to Rs 6,857 crore from Rs 1,817 crore in the year-ago period, on the back of the gross NPA ratio moving up to 9.99% from 3.72%.

There was a write-back of Rs 1,055 crore which seems to have helped limit the losses for the bank.