Bandhan Bank Q4 profit tumbles 80 pc to Rs 103 crore

Bandhan Bank said on Saturday its net profit for the January to March quarter crashed by 80 per cent to Rs 103 crore against Rs 517 crore in the corresponding quarter of previous year.

The operating profit increased by 13.7 per cent to Rs 1,730 crore against Rs 1,521 crore while net interest income rose by 4.6 per cent at Rs 1,757 crore as against Rs 1,680 crore in Q4FY20.

Provisions jumped by 93 per cent to Rs 1,594 crore in Q4 FY21 as compared to Rs 827 crore in the same period of previous fiscal.

The micro-finance lender's gross non-performing asset (NPA) ratio fell to 6.8 per cent in Q4 from 7.1 per cent in Q3 and net NPA rose to 3.5 per cent from 2.4 per cent.

The board has proposed a dividend of Re 1 per share.

"With accelerated provisioning and write off, we are now well placed as we enter FY 22. We remain cautious but confident as we deal with the COVID-19 second wave," said Chandra Shekhar Ghosh, Managing Director and CEO.

 

( With inputs from ANI )