Bandhan Bank posts net profit of Rs. 721.16 crores in Q2 FY2023-24

Bandhan Bank Limited has reported Standalone financial results for the period ended September 30, 2023.

Financial Results (Q2 FY2024) - QoQ Comparison

The company has reported total income of Rs. 5032.1887 crores during the period ended September 30, 2023 as compared to Rs. 4908.0291 crores during the period ended June 30, 2023.

The company has posted net profit / (loss) of Rs. 721.1658 crores for the period ended September 30, 2023 as against net profit / (loss) of Rs. 721.0536 crores for the period ended June 30, 2023.

The company has reported EPS of Rs. 4.47 for the period ended September 30, 2023 as compared to Rs. 4.48 for the period ended June 30, 2023.

Financials	Q2 FY2024	Q1 FY2024	% Change
Total Income	₹ 5032.1887 crs	₹4908.0291 crs	2.53%
Net Profit	₹721.1658 crs	₹721.0536 crs	0.02%
EPS	₹4.47	₹4.48	-0.22%

Financial Results (Q2 FY2024) - YoY Comparison

The company has reported total income of Rs. 5032.1887 crores during the period ended September 30, 2023 as compared to Rs.4249.8670 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs.721.1658 crores for the period ended September 30, 2023 as against net profit / (loss) of Rs.209.2738 crores for the period ended September 30, 2022.

The company has reported EPS of Rs.4.47 for the period ended September 30, 2023 as compared to Rs.1.30 for the period ended September 30, 2022.

Financials	Q2 FY2024	Q2 FY2023	% Change
Total Income	₹ 5032.1887 crs	₹4249.8670 crs	18.41%
Net Profit	₹721.1658 crs	₹209.2738 crs	244.60%
EPS	₹4.47	₹1.30	243.85%

Financial Results (Half Year Ended FY2024) - YoY Comparison

The company has reported total income of Rs.9940.2178 crores during the 6 Months period ended September 30, 2023 as compared to Rs.8634.9168 crores during the 6 Months period ended September 30, 2022.

The company has posted net profit / (loss) of Rs.1442.2194 crores for the 6 Months period ended September 30, 2023 as against net profit / (loss) of Rs.1095.7782 crores for the 6 Months period ended September 30, 2022.

The company has reported EPS of Rs.8.95 for the 6 Months period ended September 30, 2023 as compared to Rs.6.80 for the 6 Months period ended September 30, 2022.

Financials	Half Year Ended FY2024	Half Year Ended FY2023	% Change
Total Income	₹9940.2178 crs	₹8634.9168 crs	15.12%
Net Profit	₹1442.2194 crs	₹1095.7782 crs	31.62%
EPS	₹8.95	₹6.80	31.62%

Asset Quality:

Asset Quality	Q2 FY2024	Q1 FY2024	Q2 FY2023
Gross NPA	₹7873.8296 crs	₹6960.4018 crs	₹6853.8503 crs
Gross NPA %	7.32%	6.76%	7.19%
Net NPA	₹2365.1899 crs	₹2140.7086 crs	₹1678.1568 crs
Net NPA %	2.32%	2.18%	1.86%

Gross NPA was at ₹ 7873.8296 crs in Q2 FY2024 against ₹ 6853.8503 crs in Q2 FY2023. The same was at ₹ 6960.4018 crs in Q1 FY2024.

Net NPA was at ₹ 2365.1899 crs in Q2 FY2024 against ₹ 1678.1568 crs in Q2 FY2023. The same was at ₹ 2140.7086 crs in Q1 FY2024.

GNPA was at 7.32% of Gross advances as on September 30, 2023 as compared to 7.19% as on September 30, 2022 and 6.76% as of June 30, 2023.

Net NPA was at 2.32% of Gross advances as on September 30, 2023 as compared to 1.86% as on September 30, 2022 and 2.18% as of June 30, 2023.

Ratios	Q2 FY2024	Q1 FY2024	Q2 FY2023
RoA %	0.48%	0.48%	0.15%
CAR (BASEL III) %	19.21%	19.75%	19.37%

Return on Average Assets (RoA) is at 0.48% for Q2 FY2024 against 0.48% in Q1 FY2024 and 0.15% in Q2 FY2023.

In Q2 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 19.21%, as compared to 19.75% in Q1 FY2024 and 19.37% in Q2 FY2023.

Shares of Bandhan Bank Limited was last trading in BSE at Rs. 239.55 as compared to the previous close of Rs. 244.05. The total number of shares traded during the day was 246156 in over 4134 trades.

The stock hit an intraday high of Rs. 246.00 and intraday low of 238.75. The net turnover during the day was Rs. 59526555.00.

Source : Equity Bulls

Keywords

BandhanBank Q2FY24 H1FY24 ResultUpdate