Bandhan Bank Q2 Results: Net profit jumps three times to Rs 721 crore with double-digit NII growth

Bandhan Bank on Wednesday reported a 3.4 times year-on-year increase in net profit to Rs 721.2 crore for the July-September period, missing Street estimates.

The Kolkata-headquartered lender's net interest income (NII), or the difference between the interest earned and the interest paid, grew 11.4 per cent to Rs 2,443.4 crore for the second quarter of the current financial year, according to a regulatory filing.

According to Zee Business research, the bank's quarterly net profit was estimated at Rs 750 crore and NII at Rs 2,480 crore. 

The lender's asset quality deteriorated, as reflected in a sequential increase of 56 basis points (bps) in gross non-performing assets (GNPAs), or gross bad loans, as a percentage of total loans to 7.32 per cent for the quarter under review. Its net non-performing assets, or net bad loans, also rose, to 2.32 per cent from 2.18 per cent. 

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Bandhan Bank shares closed 0.7 per cent weaker at Rs 238 on BSE moments after the end of trade on Wednesday.

Bandhan Bank shares: Past performance  

Bandhan Bank shares finished the September quarter with a gain of 3.9 per cent, better than a 2.4 per cent rise in the headline Nifty 50 index. 

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