Bandhan Bank's Q4 net profit declines 80% due to higher provisioning

Provisions of the lender nearly doubled to 1,594 cr in Q4FY21 as compared to Rs 827 cr in Q4FY20

Kolkata-based private sector lender Bandhan Bank has reported an 80 per cent drop in net profit in the March quarter of FY21, missing Street estimates, due to higher provisions. In Q4FY21, the profit after tax of the lender fell to Rs 103 crore compared to Rs 517.3 crore in the same period last year. Sequentially, the net profit was down 84 per cent as in the December quarter it had recorded a profit of Rs 632.6 crore. 

Net interest income (NII) of the microfinancing lender grew 4.6 year-on-year (YoY) to Rs 1,757 crore but sequentially it was down 15.2 per cent,