The present study was designed for investigating the hypoglycemic, hypolipidemic and antioxidant activity of the leaves of B. ramiflora. Antioxidant potential was assayed by measuring the free radical scavenging activity using 1, 1‐diphenyl‐2‐picrylhydrazyl (DPPH). Diabetes was induced in adult albino rats of both sexes by intra peritoneal (ip) injection of alloxan (120 mg/kg). Methanolic extract of B. ramiflora leaves (200 mg/kg) was administered as a single dose per day to the diabetic rats for 14 days. The control group received distilled water for the same duration. Blood glucose levels and serum lipid profiles were measured in the diabetic and non‐diabetic rats. The methanolic extract showed potent free radical scavenging activity with IC50 value of 23.83 (µg/ml). It produced substantial hypoglycemia and reduced the elevated blood glucose level in the diabetic rats towards normal and it was statistically highly significant (p< 0.005). Except HDL, the methanolic extract decreased the level of cholesterol, triglycerides and LDL and this reduction was statistically highly significant (p< 0.005). The present study on this plant established that the leaves of B. ramiflora possess hypoglycemic, hypolipidemic and antioxidant activity.