Bandhan Bank Ltd on Thursday reported a 67.8% increase in its March quarter net profit due to higher net interest and non-interest income. Net profit for the quarter stood at ₹651 crore, beating the Street's estimates, up 67.78% from ₹388 crore a year ago. Analysts expected the lender to report a net profit of ₹546.30 crore, according to a Bloomberg poll of eight analysts. Net NPAs were at 0.58% in the March quarter compared to 0.70% in the previous quarter and 0.58% in the same quarter last year. We closed the financial year on a positive note with visibility of growth and improvement in asset quality and liability profile," said Chandra Shekhar Ghosh managing director and chief executive officer of Bandhan Bank.

Source: Mint May 02, 2019 07:10 UTC