Bank of Baroda shares traded in the red on 9 October even though the public sector lender reported strong growth in its Q2 report.

The Bank reported that its total business saw a 15.88% YoY growth at Rs 22 lakh crore for the quarter under review, as per the provisional number provided by the Bank in a BSE filing on 6 October.

The lender’s total advances saw a 17.3% YoY growth and 3.15% QoQ growth at Rs 10.25 lakh crore for the September quarter. The total deposits at the Bank saw a 14.63% You increase and a 4.15% QoQ increase at Rs 12.49 lakh crore for the same period.

On 5 August, the Bank reported an 87.7% increase in its net profit to Rs 4,070 crore for Q1FY24 from the Rs 2,168 crore reported in Q1FY23.

The stock has given a return of around 27% in a period of 6 months against the 8.63% return delivered by the Nifty Bank Index in the same period. The shares of the public sector lender have given a return of over 60% in the last one year.

At 3:30 pm, the shares of Bank of Baroda closed at Rs 211.55 or 1.74% below its previous close.