Bandhan Bank Q1 profit jumps 35% as provisions decline sharply

Bandhan Bank reported a 35% YoY jump in Q1 net profit to Rs 502 crore, aided by a sharp 41% decline in provisions to Rs 683 crore. Gross NPAs improved significantly to 3.15% from 4.96% a year ago, and gross advances grew 16% YoY to Rs 1.56 lakh crore. However, operating profit fell to Rs 1358 crore from Rs 1668 crore, with total income up a marginal 0.5% as a 90% drop in treasury earnings weighed on topline.