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Bank of Baroda Q1 profit falls after one-time NMC settlement charge
The lender posted Q1FY27 standalone net profit of ₹1,278.4 crore, down from ₹4,541.4 crore a year earlier, as a ₹5,680.2 crore one-time legal expense weighed on results.
Bank of Baroda reported Q1FY27 results for the April-June quarter ended 24 July, with standalone net profit falling nearly 72% year over year to ₹1,278.39 crore, down from ₹4,541.36 crore in the same period a year earlier, according to LiveMint Markets. The bank attributed the sharp decline to a one-time expense of ₹5,680.23 crore incurred during the quarter related to payments to NMC Group to settle a legal dispute. LiveMint Markets also noted that in July, Bank of Baroda agreed to pay $600 million in an out-of-court settlement to resolve litigation tied to the collapse of UAE-based healthcare provider NMC Health. Total income rose 2.6% year over year to ₹36,681.09 crore. Operating profit before provisions and contingencies decreased 1.3% year over year to ₹8,127.25 crore. Separately, the bank said its board considered increasing resource-raising limits for overseas operations, raising borrowings through various loan facilities from $5 billion to $10 billion. It also considered retaining the Medium Term Note programme at $4 billion, with a new $1 billion sub-limit for green and ESG bond issuance for overseas operations, including IFSCBU.