Suryoday Small Finance Bankreported a sharp increase in net profit to ₹77 crore in the second quarter, compared with ₹30 crore in the corresponding quarter last year.
Net interest income (NII), the difference between interest earned on loans and interest paid on deposits, rose 43% year-on-year to ₹369 crore from ₹258 crore, reflecting growth in the bank’s core interest income.
Operating profit increased 84.8% to ₹146 crore from ₹79 crore in the year-ago period.
Gross bad-loan ratio declines sequentially
The bank’s gross non-performing assets (GNPA) ratio, which measures bad loans as a share of total advances, improved to 2.97% from 6.5% in the preceding quarter.
However, the net non-performing assets (NNPA) ratio rose to 1.54% from 1.2% sequentially, indicating an increase in bad loans after accounting for provisions.
Shares of Suryoday Small Finance Bank closed 1.32% lower at ₹132 on October 29.
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