Bandhan Bank April-June Net Profit Slumps 65% On Year On Higher Provisions

Bandhan Bank on Friday reported a 65% year-on-year drop in net profit for the June quarter to ₹3.72 billion, marking its steepest decline in five quarters due to a spike in provisions. On a sequential basis, however, net profit rose 17%.

Despite the sharp annual fall, the bottom line came in above street expectations of ₹3.45 billion.