ESAF Small Finance Bank shares have surged to hit the upper circuit at 5% after the company announced its results for the second quarter of FY27. The company shares reacted positively after the recorded strong numbers and improved its asset quality.
The Thrissur-based lended recorded a net profit figure of ₹160 crore, compared to the loss incurred of ₹116 crore in the previous fiscal cycle.
Moving to more critical numbers, the company recorded surge on 73% year-on-year in its Net Interest Income or NII. The NII figure surged to ₹643.5 crore, compared to the previous year’s ₹372 crore.
Looking at the asset quality of the SFB, the ESAF SFB’s Gross NPA stood 2.84% for the quarter that ended in September, compared to 5.4% Gross NPA in the previous quarter (Q1FY27).
Furthermore, the Net NPA also improved to 0.34%, compared 0.83% in the June-bound quarter.
Sequentially speaking, in Q1FY27, ESAF Small Finance Bank disclosed a standalone net profit of ₹80.1 crore. Its Net Interest Income (NII) demonstrated substantial growth, increasing 54.7% on a year-over-year basis to ₹584.3 crore from ₹377.6 crore. Aggregate income expanded to ₹1,346 crore relative to ₹1,023.4 crore in the prior year.
When we look at the company stock’s performance, the shares have hit an upper circuit, surging 5%.
The stock opened at ₹40.50 and gathered momentum to touch an intraday high of ₹42.94. In the past year of trade, the stock has surged over 53%. Teh shares are now trading 6.65% below its 52-week high of ₹46.00. Furthermore, the stock is trading 117.09% above its 52-week low of ₹19.78. The stock has closed in green in 4 out of the lats 10 session, notching up a hattrick of gains today.
ESAF Small Finance Bank Q2 Results: Shares hit upper circuit as profit rises, asset quality improves