BoB posts loss in Q4 as it shifts to new tax regime
The Hindu
Lender’s FY21 net profit surges 52%
Bank of Baroda (BoB) reported a standalone net loss of ₹1,046.5 crore for the quarter ended March 31. The bank had posted a net profit of ₹506.6 crore in the year-earlier period. For the fiscal year 2020-21, the bank reported a 52% rise in net profit to ₹829 crore. “The bank moved to a new tax structure thus reporting a loss of ₹1,047 crore because of DTA (deferred tax asset) reversal.
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