Bandhan Bank Net Profit Falls 32% To Rs 373 Crore In June Quarter

Bandhan Bank introduced its April-June quarter outcomes for the monetary yr 2021-22, reporting a web revenue of Rs 373 crore, down 32 per cent year-on-year, in comparison with Rs 549.80 crore within the corresponding quarter final yr. The Kolkata-based financial institution’s web curiosity revenue or NII within the first quarter of the present fiscal grew by 16.7 per cent to Rs 2,114.1 crore, in comparison with Rs 1,811.5 crore within the corresponding eperiod of the earlier monetary yr. 

The financial institution’s web non-performing property (NPAs) by June 2021 stood at Rs 2,457.9 crore (at 3.3 per cent), in comparison with Rs 2,861.0 crore (at 3.5 per cent) within the previous January-March quarter of fiscal 2020-21.

Bandhan financial institution’s non-interest revenue elevated 37.7 per cent to Rs 533.4 crore within the June quarter, in comparison with Rs 386.8 crore in the identical quarter final yr. The working revenue for the quarter grew by 18.1 per cent to Rs 1,871.1 crore, in comparison with Rs 1,584.2 crore within the corresponding quarter final yr.

The financial institution’s gross NPAs within the June quarter stood at Rs 6,440.4 crore (at 8.2 per cent), in comparison with Rs 5757.8 crore (at 6.8 per cent) within the March quarter.

“In spite of difficult setting as a consequence of covid second wave, we now have delivered the perfect ever quarter when it comes to operational performances. Collections continues to enhance with covid restrictions getting relaxed.

Typically, second half of the monetary yr is at all times higher for the financial institution when it comes to progress and collections. With easing of covid second wave and upcoming festive season, we’re assured of reaching higher efficiency going ahead,” stated Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank.

On Friday, July 30, shares of Bandhan Bank settled 0.43 per cent decrease at Rs 291.30 apiece on the BSE. Bandhan Bank opened on the BSE at Rs 293, touching an intra day excessive of Rs 295.50 and an intra day low of Rs 290.70, all through the buying and selling session at present.