Fundamental Result Update

Bank of Baroda - Q1FY18 Results



Bank of Baroda reported Operating Profit of Rs. 2648 Cr in Q1 FY 2018 as against Rs. 2,669 Cr in corresponding quarter previous year, a de-growth of 0.8%. The bank reported net profit of Rs 203 crs for the quarter against profit of Rs 424 crs in corresponding quarter of previous year.

Valuation: At CMP of Rs 147 the stock is trading at P/ABV multiple of 1.5(x) on FY19E. We have valued stock on P/ABV(x) of 1.6(x) on its FY 19E ABV of Rs 101 per share and have arrived at fair value of Rs 164. We have HOLD rating on the stock.


Tags: FundamentalResult Update Bank of Baroda


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