Bank of Baroda (BoB) on Friday reported a net loss of ₹3,102.34 crore for the January-March quarter of 2017-18 due to higher provisioning for bad loans.
The lender had registered a net profit of ₹154.72 crore in the corresponding quarter of 2016-17.
Provisions for bad loans jumped to ₹7,052.53 crore in the March quarter, from ₹2,425.07 crore in the same period of 2016-17, according to a regulatory filing.
Total income declined to ₹12,735.16 crore in the last quarter of 2017-18 from ₹12,852.44 crore in the year earlier period.
Bad loans surged to 12.26% of gross advances as on March 31, 2018.
