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Bandhan Bank shares rise over 4% as lender posts jump of 68% in its net profit in fourth quarter

New Delhi: Shares of Bandhan Bank rose over 4 percent on Thursday after the company posted a jump of 68 percent in its net profit in the fourth quarter ended March.

The scrip jumped 4.11 percent to close at Rs 622.60 on the BSE. During the day, it rose 6.18 percent to Rs 635.

On the National Stock Exchange (NSE), shares closed at Rs 625.25, a gain of 4.30 percent.

 Bandhan Bank shares rise over 4% as lender posts jump of 68% in its net profit in fourth quarter

Representational image. Reuters

Private sector lender Bandhan Bank Thursday posted a jump of 68 percent in its net profit to Rs 650.87 crore in the March quarter, on account of healthy core income.

The lender had registered a net profit of Rs 387.86 crore in the January-March quarter of the previous financial year.

Its total income rose to Rs 2,220.51 crore compared with Rs 1,553.97 crore in the year-ago period, the bank said in a regulatory filing.

The bank witnessed a spike in its gross non-performing assets (NPAs) to 2.04 percent of the gross loans as on 31 March, 2019, from 1.25 percent by the end of March 2018.

However, the net NPAs or bad loans remained flat at 0.58 percent.

Bandhan Bank said the board of directors has recommended a dividend of Rs 3 per share subject to shareholders approval.

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Updated Date: May 02, 2019 18:09:26 IST