Bandhan Bank surges on strong quarterly results

Bandhan Bank posts impressive Q1FY19 results with strong interest income and low provisions over the previous quarter.

The total net interest income for the quarter rose by 39.5 per cent yoy and 20.1 per cent qoq to Rs. 1,037 crore in Q1FY19 vs Rs.743 crore in Q1FY18 and Rs. 863 crore in the previous quarter. The interest income for the quarter rose by 34.6 per cent yoy and 15.2 per cent qoq.

The bank's asset quality showed stability over the previous quarter as GNPAs remained unchanged at 1.26 per cent in Q1FY19 vs 1.25 per cent in the previous quarter. Total GNPAs increased rose by 4 per cent qoq to Rs. 388 crore in Q1FY19.

The provisions for the quarter also declined 27 per cent qoq to Rs. 80 crore in Q1FY19 vs Rs. 109.8 crore in the previous quarter. This led to a substantial rise in the net profit for the quarter to Rs. 481 crore by 24.2 per cent qoq.

The total advances for the quarter rose by 52 per cent yoy to Rs. 32,590 crore in Q1FY19.

The stock touched its all-time high of Rs. 607.55 per share and closed up by 6.79 per cent at Rs.600  mark.