Bank of Baroda reported a 35.8% year-on-year increase in standalone net profit for the September quarter, as higher interest earnings and other income lifted operating profit. Profit after tax reached ₹6,531.54 crore in the three months ended September 30, 2026, compared with ₹4,809.39 crore a year earlier. The bank's board approved the unaudited, reviewed results on October 30.
Standalone total income increased 19.8% to ₹41,966.05 crore from ₹35,025.76 crore. That figure includes both interest earned and other income: it is not the same measure as net interest income. The distinction matters because interest paid on deposits and other funding is deducted when calculating net interest income, but not when reporting total income.
The official results filing covers both the July-to-September quarter and the six months ended September 30. Its standalone figures describe the bank itself, while a separate consolidated statement includes its wider group. The headline profit and income comparisons here use the standalone statement consistently rather than mixing the two reporting bases.
Interest income and other income lift operating profit
Interest earned rose to ₹35,085.33 crore from ₹31,510.81 crore. Interest expended also increased, reaching ₹22,059.06 crore against ₹19,557.20 crore. Subtracting the latter from the former gives quarterly net interest income of ₹13,026.27 crore, up 9.0% from ₹11,953.61 crore. These calculations use the unrounded figures in the bank's financial table, which presents amounts in lakhs.
Other income grew more sharply, rising 95.8% to ₹6,880.72 crore from ₹3,514.95 crore. Operating expenses increased 7.4% to ₹8,476.88 crore, including employee costs of ₹4,582.72 crore. Together, the income and expenditure figures produced operating profit before provisions and contingencies of ₹11,430.11 crore, compared with ₹7,575.95 crore, an increase of 50.9%.
Not all of that operating improvement reached the bottom line. Provisions other than tax rose to ₹2,381.83 crore from ₹1,232.47 crore, an increase of 93.3%. Tax expense was ₹2,516.74 crore against ₹1,534.09 crore. The reported net profit already reflects those charges; it is not an adjusted profit figure that excludes them.
Half-year profit and group figures need separate comparisons
The half-year comparison was different from the stronger September quarter. Standalone profit for April through September declined 16.5% to ₹7,809.93 crore from ₹9,350.75 crore. The half-year table includes an exceptional charge of ₹5,680.23 crore, while the exceptional-items line for the September quarter is blank. The six-month charge should therefore not be described as a September-quarter exceptional expense.
At the consolidated level, total income was ₹45,783.71 crore, compared with ₹38,434.10 crore. Final consolidated net profit, after minority interests and the share of associates' profit, rose 31.2% to ₹6,737.28 crore from ₹5,133.56 crore. This is separate from the standalone profit used in the headline, and from the consolidated profit subtotal before those group-accounting adjustments.
Asset quality, business growth and the market close
The bank's gross non-performing asset ratio fell to 1.78% from 2.16% a year earlier, a reduction of 38 basis points. Its net non-performing asset ratio declined to 0.37% from 0.57%. The standalone capital adequacy ratio was 16.61%, compared with 16.54%, while the common equity tier-one ratio increased to 14.20% from 13.36%. The non-performing asset ratios describe the share of the relevant loan base classified as non-performing; the lower percentages do not mean that the bank has no stressed loans.
The accompanying press release showed global advances of ₹15,12,448 crore, up 18.3% year on year, and global deposits of ₹17,45,435 crore, up 16.4%. Within India, advances increased 13.5% to ₹11,87,944 crore and deposits rose 16.6% to ₹14,83,521 crore. Domestic current-account and savings-account deposits were ₹5,39,515 crore, up 10.4%.
The NSE quote page, timestamped October 30 at 4 pm IST, showed a closing price of ₹238.60, down ₹2.71 or 1.12% from the previous close of ₹241.31. The exchange's announcement table recorded the results broadcast at 4:23:59 pm. The closing decline preceded that broadcast and should not be presented as a market reaction to this filing.
The release joins the current earnings reporting cycle, alongside Trent's September-quarter results and Coal India's quarterly figures. For Bank of Baroda, the quarter and half-year statements tell different profit stories, making the reporting period and standalone or consolidated basis essential to any comparison. This report describes the published results and does not offer investment advice.
