Bandhan Bank gains over 7% post Q2 results

The stock moved higher by 7.5% to Rs 521 on the BSE in intra-day trade after the bank reported 47% year on year jump in net profit at Rs 4.88 billion in Q2FY19.

Shares of Bandhan Bank have moved higher by 7.5% to Rs 521 per share on the BSE in intra-day trade after the bank reported a 47% year on year (YoY) jump in its net profit at Rs 4.88 billion during July-September quarter (Q2FY19). The private sector lender had a profit of Rs 3.31 billion in the same quarter last fiscal.

Net interest income (NII) for the quarter grew by 55.6% at Rs 10.78 billion as against Rs 6.93 billion in the corresponding quarter of the previous year. Net interest margin (NIM) improved to 10.3% from 9.3% in year ago