Bank of Baroda’s record profit: What drove it, what the reports disagree on

What drove it: a jump in treasury income to Rs 4,093 crore, aided by the NSE share sale.

What the core business shows: net interest income up 9% and a margin of 2.74%, down 3 basis points.

Where reports differ: the profit is Rs 6,532 crore in most reports and Rs 6,531 crore in one, and the year-earlier base differs by Rs 1 crore.

What is a cost: provisions rose 93% from a year earlier to Rs 2,382 crore.

What is unclear: the effect of a reported settlement with the NMC Group, mentioned in one report only.

The bank described the figure as its highest-ever quarterly profit, according to Business Standard’s headline.

The profit rose about 35.8% from a year earlier, according to Zeebiz and Indian Masterminds. One report gives the profit as Rs 6,531 crore, and the year-earlier base is given as Rs 4,809 crore in some reports and Rs 4,810 crore in others, so the exact figures differ slightly.

Operating profit rose about 50.9% to a record Rs 11,430 crore, according to Indian Masterminds.

Treasury income was Rs 4,093 crore, against Rs 1,086 crore a year earlier, according to the reports.

The sharp rise in non-interest income was aided by the sale of the bank’s shares in the National Stock Exchange through its IPO, according to the reports.

Net interest income, the difference between what the bank earns on loans and pays on deposits, grew 9% to Rs 13,026 crore, according to Zeebiz and inkl.

Net interest margin fell 3 basis points from the previous quarter to 2.74%, according to the reports. A basis point is one hundredth of a percentage point.

Provisions rose 93% from a year earlier to Rs 2,382 crore, but were below the Rs 6,323 crore booked in the first quarter of 2026-27, according to the reports.

Bank of Baroda branch at MG Road, Bengaluru (file image), Wikimedia Commons, CC BY-SA 4.0