Bandhan Bank Ltd posts Rs. 373.08 crores PAT in Q1FY22

Bandhan Bank Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.3943.37 crores during the period ended June 30, 2021 as compared to Rs.3787.91 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.373.08 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.103.03 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.2.32 for the period ended June 30, 2021 as compared to Rs.0.64 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 3943.37 crs	₹ 3787.91 crs	4.1%
Net Profit	₹ 373.08 crs	₹ 103.03 crs	262.11%
EPS	₹ 2.32	₹ 0.64	262.5%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.3943.37 crores during the period ended June 30, 2021 as compared to Rs.3404.84 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.373.08 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.549.81 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.2.32 for the period ended June 30, 2021 as compared to Rs.3.41 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 3943.37 crs	₹ 3404.84 crs	15.82%
Net Profit	₹ 373.08 crs	₹ 549.81 crs	-32.14%
EPS	₹ 2.32	₹ 3.41	-31.96%

Highlights for the Quarter ended June 30, 2021:

- Net Interest Income (NII) for the quarter grew by 16.7% to ₹2,114.1 crore as against ₹1,811.5 crore in the corresponding quarter of the previous year.

- Non-interest income grew by 37.7% to ₹533.4 crore for the quarter ended June 30, 2021 against ₹386.8 crore in the corresponding quarter of the previous year.

- Operating Profit for the quarter increased by 18.1% to ₹1,871.1 crore against ₹1,584.2 crore in the corresponding quarter of the previous year.

- Net Interest Margin (annualised) for the quarter ended June 30, 2021 stood at 8.5% against 8.2% in June 30, 2020.

- Total Advances (on book + off book + TLTRO + PTC) grew by 8.1% to ₹80,356.9 crore as on June 30, 2021 against ₹74,330.5 crore as on June 30, 2020

- Total Deposits increased by 27.6% to ₹77,335.5 crore as on June 30, 2021 as compared to ₹60,610.0 crore as on June 30, 2020.

- Gross NPAs as on June 30, 2021 is at ₹6,440.4 crore (8.2%) against ₹5757.8 crore (6.8%) as on March 31, 2021.

- Net NPAs as on June 30, 2021 stood at ₹2,457.9 crore (3.3%) against ₹ 2,861.0 crore (3.5%) as on March 31, 2021.

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: "In spite of challenging environment due to covid second wave, we have delivered the best ever quarter in terms of operational performances. Collections continues to improve with covid restrictions getting relaxed.

Typically, second half of the financial year is always better for the bank in terms of growth and collections. With easing of covid second wave and upcoming festive season, we are confident of achieving better performance going forward."

Banking outlets as on June 30, 2021, stood at 5,574. The network consists of 1,152 branches, 4,422 banking units as against 1,018 branches and 3,541 banking units as on June 30, 2020. Total number of ATMs stood at 487 as on June 30, 2021 against 485 as on June 31, 2020. During the quarter, the number of employees of the bank has gone up from 49,445 to 51,054.

Shares of Bandhan Bank Ltd was last trading in BSE at Rs. 291.3 as compared to the previous close of Rs. 292.55. The total number of shares traded during the day was 330003 in over 9084 trades.

The stock hit an intraday high of Rs. 295.5 and intraday low of 290.7. The net turnover during the day was Rs. 96548598.

Source : Equity Bulls

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