GulfHindi English Desk: Bandhan Bank recently released its results for the June quarter, reporting a decrease in its net profit by 18.7% to INR 721 crore. The main reason for this decline is attributed to a decrease in net interest income.
According to the Kolkata-based private sector bank, its net profit for the same quarter last year was INR 887 crore. However, during the financial year 2022-23, the bank’s total income increased from INR 4,385 crore to INR 4,908 crore.
The bank’s net interest income increased from INR 4,055 crore in the previous year’s June quarter to INR 4,523 crore this year. However, in the first quarter of the financial year 2023-24, the net interest income decreased to INR 2,491 crore.
Here is a table summarizing Bandhan Bank’s income and profit figures:
| Amount (INR Crore) | FY 2022-23 | FY 2023-24 |
|——————–|————|————|
| Total Income | 4,385 | 4,908 |
| Net Interest Income| 4,055 | 4,523 |
| Net Profit | 887 | 721 |
Bandhan Bank’s shares rose by 2.53% until the market closed on Friday. However, the bank’s shares have consistently declined over the past six months, resulting in a loss of 8% for investors. Over the past year, investors have lost more than 21% of their investment. The bank’s shares reached a high of INR 314 in the past 52 weeks but fell to INR 182 at its lowest point.
As of market close, Bandhan Bank’s shares were priced at INR 221.25. Although the bank’s income has increased, the decrease in net profit will influence the direction of the bank’s shares on Monday.
en.gulfhindi.com News Summary
👉Bandhan Bank recently released its June quarter results, showing a decrease in net profit by 18.7% to 721 crore rupees.
👉The main reason for this decline is attributed to a decrease in net interest income.
👉In the same quarter last year, the bank’s net profit was 887 crore rupees.
👉However, during the financial year 2022-23, the bank’s total income increased from 4,385 crore rupees to 4,908 crore rupees.
👉The bank’s interest income also increased from 4,055 crore rupees to 4,523 crore rupees.
👉But in the first quarter of the financial year 2023-24, the net interest income decreased to 2,491 crore rupees.
👉Below is a table summarizing Bandhan Bank’s income and profit figures.
👉Bandhan Bank’s shares increased by 2.53% before the market closed on Friday.
👉Over the past 6 months, the bank’s shares have continuously declined, resulting in a loss of 8% for investors. Over the past year, investors have lost more than 21%.
👉Bandhan Bank’s shares reached a level of 314 rupees in the past 52 weeks, but dropped to 182 rupees at its lowest point.
👉The bank’s shares closed at 221.25 rupees before the market closed.
👉Bandhan Bank’s income may be significant, but the decrease in net profit will impact the direction of its shares.
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