Bank of Baroda’s September quarter performance showed that the lender has recovered swiftly from the blow of the pandemic but the asset quality outlook is still unclear. The public sector lender reported a net profit of Rs.1,679 Crore, beating Street estimates by a mile. The beat on profit was largely because of a sharp sequential increase of 28% in operating profit. Bank of Baroda’s core interest income grew by 7% year-on-year, and together with stable net interest margin boosted operating profit.

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