NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Bank of Baroda reported Q3 FY24 profit after tax of Rs 45.8 billion, up 19% YoY (9% beat), driven by lower provisions and a 3 basis points QoQ expansion in margins.
Other income declined 21% YoY to Rs 28.1 billion, affected by weak treasury income. Total income, thus, declined 3% YoY (6% miss).
Business growth was healthy, with loans growing 15% YoY (2.6% QoQ) and deposits increasing 8% YoY (flat QoQ). The CD ratio, thus, increased sharply to 82.2%, though liquidity coverage ratio remained comfortable at 133%.
Slippages improved to 0.95%. gross non-performing assets/net non-performing assets ratios, thus, improved by 24 basis points/6 bp QoQ to 3.1%/0.7%. PCR stood stable at 77.7%.
We increase our FY24 earnings estimate by 4.4% and estimate FY25 return of assets /return of equity of 1.2%/17.8%. We reiterate our 'Buy' rating on the stock.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
