Bandhan Bank first-quarter profit surges on higher interest income

(Reuters) - India's Bandhan Bank Ltd posted a 47 percent surge in its quarterly profit on Wednesday, helped by higher interest income.

Net profit was 4.82 billion rupees ($70.32 million) in the first quarter ended June 30, compared with 3.27 billion rupees a year ago, the Kolkata-based bank, which started as a micro-finance firm, said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/c8088890-4388-4406-80d4-562f15d2d057.pdf.

Gross bad loans as a percentage of total loans stood at 1.26 percent at end-June, compared with 1.25 percent in the previous quarter and 0.93 percent a year earlier.

Interest earned during the quarter was up about 35 percent.

($1 = 68.5400 Indian rupees)

(Reporting by Vishal Sridhar in Bengaluru; Editing by Subhranshu Sahu)