Business

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

[ad_1]

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

On Friday, shares of Bandhan Bank settled 0.43 per cent lower at Rs 291.30 apiece on the BSE.

Bandhan Bank announced its April-June quarter results for the financial year 2021-22, reporting a net profit of Rs 373 crore, down 32 per cent year-on-year, compared to Rs 549.80 crore in the corresponding quarter last year. The Kolkata-based bank’s net interest income or NII in the first quarter of the current fiscal grew by 16.7 per cent to Rs 2,114.1 crore, compared to Rs 1,811.5 crore in the corresponding eperiod of the previous financial year. 

The bank’s net non-performing assets (NPAs) by June 2021 stood at Rs 2,457.9 crore (at 3.3 per cent), compared to Rs 2,861.0 crore (at 3.5 per cent) in the preceding January-March quarter of fiscal 2020-21.

Bandhan bank’s non-interest income increased 37.7 per cent to Rs 533.4 crore in the June quarter, compared to Rs 386.8 crore in the same quarter last year. The operating profit for the quarter grew by 18.1 per cent to Rs 1,871.1 crore, compared to Rs 1,584.2 crore in the corresponding quarter last year.

The bank’s gross NPAs in the June quarter stood at Rs 6,440.4 crore (at 8.2 per cent), compared to Rs 5757.8 crore (at 6.8 per cent) in the March quarter.

“In spite of challenging environment due to covid second wave, we have delivered the best ever quarter in terms of operational performances. Collections continues to improve with covid restrictions getting relaxed.

Typically, second half of the financial year is always better for the bank in terms of growth and collections. With easing of covid second wave and upcoming festive season, we are confident of achieving better performance going forward,” said Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank.

On Friday, July 30, shares of Bandhan Bank settled 0.43 per cent lower at Rs 291.30 apiece on the BSE. Bandhan Bank opened on the BSE at Rs 293, touching an intra day high of Rs 295.50 and an intra day low of Rs 290.70, throughout the trading session today. 

[ad_2]
Source link

Show More

Related Articles

Back to top button

Adblock Detected

Please disable your Ad-Blocker in order to view our site