(PTI) Private sector Bandhan Bank on Friday reported a 64 per cent fall in its December quarter net profit at ₹290.56 crore owing to decline in net interest income and rise in provisions for bad loans.
The Kolkata-based new generation bank had posted a net profit of ₹858.97 crore in the year-ago period.
However, the bank's total income increased to ₹4,840.94 crore in the latest December quarter from ₹4,117.76 crore a year ago, it said in a regulatory filing.
Operating profit too declined to ₹1,922.2 crore as against ₹1,950.1 crore in the third quarter of the previous year.
Net Interest Income of the bank declined by 2.1 per cent to ₹2,080.4 crore from ₹2,124.8 in the corresponding period of the preceding year.
On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 7.15 per cent, as compared to 10.81 per cent at the end of October-December quarter of previous fiscal.
At the same time, net NPAs eased to 1.86 per cent as against 3.01 per cent in the previous year.
Provision and contingencies nearly doubled to ₹1,541.49 crore over ₹805.71 crore in FY2022.
The capital adequacy ratio declined to 19.1 per cent in the December quarter as against 20 per cent.
