Bandhan Bank Q1 net profit jumps 47% to Rs 4.82 billion, NPA up by 0.64%

Bandhan Bank on Wednesday reported a net profit of Rs 4.82 billion in the first quarter ending June 2018, registering a jump of 47.51 per cent.

The bank had posted a net profit of Rs 3.27 billion in the April-June quarter of 2017-18.

As per a regulatory filing of the bank, its total income was Rs 17.668 billion in the first three months of 2018-19, up from Rs 12.753 billion in the year-ago period.

Bank's Gross Non-Performing Asset (NPA) increased to 1.26 per cent of gross advances in the quarter under review compared to 0.93 per cent in the comparable period of the last fiscal.

The net NPA too increased to 0.64 per cent or Rs 1.942 billion from 0.56 per cent in the year-ago period.

"Net Interest Income (NII) for the quarter grew by 39.5 per cent at Rs 10.37 billion as against Rs 7.43 billion in the corresponding quarter of the previous year," the bank said.
 

Commenting on the performance, MD and CEO of the bank Chandra Shekhar Ghosh said, the start of fiscal 2018-19 has been promising with advances growing Y-o-Y by 52 per cent, "overcoming the seasonality, which we normally witness during the first quarter".

Kolkata headquartered bank further said its total deposits grew by 36.83 per cent as on June 30, 2018 at Rs 307.03 billion. This compares with Rs 224.39 billion as on June 30, 2017.

The bank's shares were trading at Rs 580.25 apiece on BSE at around 1.15 PM, up 3.25 per cent.