Public sector lender Bank of Baroda reported a net profit of Rs 1,061 crore in the October-December quarter (Q3) of FY21, compared to a loss of Rs 1,407 crore in the year-ago period. Despite interest income declining by almost 7 per cent, net interest income rose 8.65 per cent to Rs 7,749 crore in Q3 compared to Rs 7,132 crore as interest expenses fell sharply. On the other hand, non-interest income rose 6 per cent to Rs 2,896 crore. Domestic net interest margin (NIM) improved by 11 basis points (bps) to 3.07 per cent in Q3FY21 compared to
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