Bandhan Bank Q4 Results: Net profit declines 80% to Rs 103 crores

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LAST UPDATED: May 9, 2021, 12:23 p.m.

New Delhi (Anish Yande): Shares of Bandhan Bank rose by 2 percent on Friday’s trading session ahead of the announcement of its results for the quarter ended March 2021. Bandhan Bank’s share opened at Rs 297 per share from its previous close of Rs 294.75 per share on Friday. The shares of the financial services company rose to an intraday high of Rs 302.65 per share on May 7.

Bandhan Bank March quarter results:

Bandhan Bank had reported a net profit of Rs 517.3 crore in the March quarter of FY20. The net profit of the financial services company fell by 80.1 percent on a year-on-year basis to Rs 103 crore in the March quarter of FY21. 

Operating profit, which is arrived at by excluding the provisions, was up 13% to Rs 1,729 crores. In the fiscal year 2020, the operating profit was at Rs 5,446.6 crore which increased to Rs 6,855.3 crore in FY21, at an increase to 25.9 percent. 

The net interest income (NII) of the bank increased to Rs 1,757 crore in the quarter ended March 31, 2021, as compared to the net profit at Rs 1,680 crore in the corresponding quarter of the previous fiscal. Net interest income rose by 4.6 percent YoY.

Net interest margin for the year ended March 31, 2021, was at 7.8 percent against 8.1 percent on March 31, 2020.

Total income of Bandhan Bank rises 17 percent:

The total income of Bandhan Bank in FY20 was at Rs 12,434.69 crore. The total income of the bank increased by 17.68 percent to Rs 14,633.27 crore in FY 2021. 

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Bandhan Bank’s overall provision was at Rs 827 crore in Q4 FY20 which rose to Rs 1,594 crore in the March quarter of 2021. 

Total advances of Bandhan Bank increased to Rs 87,043 crore, at an increase of 21% in FY21. Mortgages of the bank were up by 8.8% year-on-year to  Rs 20,210 crore.  Board of directors of Bandhan Bank has proposed a dividend of Rs 1 per share with a face value of Rs 10 for FY21.

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