Suryoday SFB Q1 profit more than doubles on strong loan growth
Suryoday Small Finance Bank reported a more than twofold rise in first-quarter net profit to Rs 75 crore, driven by healthy business growth. Net interest income, operating profit and advances increased strongly, while gross NPAs improved significa...
By Atmadip Ray, ET Bureau |
Suryoday Small Finance Bank on Thursday reported a net profit of Rs 75 crore for the first quarter of the fiscal, more than double of the year-ago period's Rs 35 crore, backed by a healthy business growth.
The bank's operating profit grew 27% year-on-year at Rs 139 crore against Rs 109 crore, backed by 28% rise in net interest income at Rs 316 crore.
Its gross advances expanded by 33% year-on-year to Rs 14,376 crore at the end of June. The lender's gross non-performing assets ratio improved to 6.5% from 8.5% a year prior.
The bank's operating profit grew 27% year-on-year at Rs 139 crore against Rs 109 crore, backed by 28% rise in net interest income at Rs 316 crore.
Its gross advances expanded by 33% year-on-year to Rs 14,376 crore at the end of June. The lender's gross non-performing assets ratio improved to 6.5% from 8.5% a year prior.
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