Mumbai, May 9 (TIWN) Bandhan Bank on Saturday reported an 80 per cent decline in its net profit for the quarter ended March at Rs 103.03 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, owing to the fact that after the apex court's order it had to reverse interest to the tune of Rs 538 crore on account of non-performing asset (NPA) recognition and interest on interest.   Non-interest income, however, grew 57.4 per cent YoY and 42.3 per cent sequentially to Rs 787.3 crore in the same period, thereby taking the total income in the reporting quarter to 2,544.3 crore, up 17 per cent YoY but down 3 per cent sequentially. The net interest margin of the lender at the end of the March quarter stood at 6.8 per cent as opposed to above 8.3 per cent in Q3FY21 due to the interest reversal.