Thursday, Feb 13 2025 | Time 11:50 Hrs(IST)
image
Business Economy


Bandhan Bank net plunges over 93 pc in Q4

New Delhi, May 17 (UNI) Private sector bank Bandhan Ban on Friday reported over 93 per cent fall in net profit at Rs 54.63 crore in the January-March or Q4 of financial year 2023-24 compared to Rs 808.29 crore in the same period of fiscal 2022-23.
During the quarter, as a prudent measure and in accordance with its policy, the Bank has technically written off loans amounting to Rs.3,852 crores.
The Bank’s net revenue as of Q4 FY24 grew 15 per cent to Rs 3,560 crore as compared to Rs 3,101 crore in Q4 FY23, the Bank said in a regulatory filing with the stock exchanges.
The Board of Directors have recommended a dividend of Rs 1.50 per equity share of Rs 10 for the year ended March 31, 2024.
For the full year 2023-24, the Bank’s net revenue was Rs 12,490 crore as compared to Rs 11,728 crore in FY23, it said adding the Net Interest Income (NII) for FY24, stood at Rs 10,326 crore compared to Rs 9,260 crore in FY23, representing a growth of 11 per cent.
The profit after tax for the year ended March 31, 2024, stood at Rs 2,229 crore compared to Rs.2,195 crore in the previous year.
Commenting on the financial performance, Chandra Shekhar Ghosh, MD & CEO, said, “The last quarter of the year is a testament to the momentum in business that we have gained. We have shown stability and growth across major parameters. The Bank also strengthened its core leadership in the quarter.”
Bandhan Bank has been built on the unwavering commitment of its employees and its success has been because of the trust of its customers. These cornerstones along with the focus on tech, people and processes will drive the growth trajectory of Bandhan Bank 2.0, he added.
UNI SJC SKB
More News
Sensex jumps over 400 pts

Sensex jumps over 400 pts

13 Feb 2025 | 10:55 AM

Mumbai, Feb 13 (UNI) The BSE Sensex on Thursday smartly recovered 409 pts at 76,580 in the opening session as buying was seen across the board.

see more..

Airtel awards contracts to Nokia to expand 5G Fixed Wireless Access devices

13 Feb 2025 | 1:32 AM

Kolkata, Feb 12 (UNI) Bharti Airtel has awarded a contract to Nokia, and Qualcomm focusing on the expansion of 5G Fixed Wireless Access (FWA) and Wi-Fi solutions to facilitate high-speed internet access to millions across India.

see more..

Tata Power Renewables, ONGC collaborate to lead way in Battery Energy Storage system

13 Feb 2025 | 12:16 AM

Kolkata, Feb 12 (UNI) Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited and a leading player in India’s renewable energy sector, has signed a non-binding memorandum of understanding (MoU) with Oil and Natural Gas Corporation Limited (ONGC), India’s premier energy company, to explore joint opportunities in the Battery Energy Storage System (BESS) and its value chain.

see more..

Suven Pharma Q3FY25 consolidated net profit up to Rs 83 29 cr

12 Feb 2025 | 10:32 PM

Hyderabad, Feb 12 (UNI) Suven Pharmaceuticals Ltd. a technology-led global Contract Development and Manufacturing Organization (CDMO), on Wednesday announced that its consolidated net profit increased to Rs 83.29 crore for the third quarter ended December 31, 2024 from Rs 46.75 crore in the corresponding period in last year.

see more..

Godrej Enterprises Group secures strategic MOUs at Aero India

12 Feb 2025 | 10:29 PM

Kolkata, Feb 12 (UNI) The Aerospace business of Godrej & Boyce, a part of Godrej Enterprises Group, is strengthening its commitment to India's self-reliance vision through signing of multiple significant MoUs during Aero India 2025 at Bengaluru to support national programs backed by the Government of India.

see more..
image