Bank Of Baroda Reported A Loss Of Rs 1,047 Crore

Bank of Baroda reported a loss of Rs 1,047 crore in the fourth quarter of the last financial year.

State-run lender Bank of Baroda (BOB) reported a loss of Rs 1,047 crore in the fourth quarter (January-March, 2021) of the last financial year on a standalone basis.

The bank had a net profit of Rs 507 crore in the same period a year ago. According to the bank, its profit declined in the fourth quarter of the last financial year due to the introduction of old to the new system of tax.

The bank’s net profit rose 52 percent to Rs 829 crore during the entire financial year (April 2020-March 2021). The bank had a net profit of Rs 546 crore in the previous financial year.

BoB MD and CEO Sanjeev Chaddha said that our pre-tax profit (PBT) was Rs 5,556 crore for the entire financial year. In view of this, we felt that the new system of low tax should be adopted.

But under the new arrangement, we had to adjust Deferred Tax Assets (DTA), which stood at around Rs 3,500 crore for the entire financial year.

So, we had to show a loss of about Rs 1,000 crore in the fourth quarter of the last financial year.

During the last financial year, BoB’s net interest income (NII) increased by 4.54 percent to Rs 7,107 crore from Rs 6,798 crore in the year-ago period.

In the fourth quarter of the last financial year, the bank said its gross NPAs (gross NPAs) declined to 8.87 percent and net NPAs to 3.09 percent.

Petrol Diesel Price: Oil prices increased again today, the price reached beyond Rs 100 in Mumbai and Bhopal.

Petrol Diesel prices increased on Saturday. On Saturday, the price of petrol has risen by about 28 paise and diesel by 26 paise.

In many countries of the world, the demand for fuel is increasing due to the removal of lockdown restrictions. Due to this, the price of crude oil WTI has reached $ 66.66 per barrel.

At the same time, the price of Brent oil has reached $ 69.01 per barrel.

Talking about the national capital Delhi, the price of petrol reached Rs 93.94 per liter (Petrol price today) on Saturday, while the price of diesel has reached Rs 84.89 per liter (Diesel price today).

Talking about other big metros of the country, the price of petrol in Mumbai has reached Rs 100.19 per liter and the price of diesel has reached Rs 92.17 per liter.

Talking about Chennai, petrol is being available here on Saturday at Rs 95.51 per liter and diesel at Rs 89.65 per liter.