Sidbi Net Profit Surges 20% to Record Rs 4,026 Cr in FY24

Sep 25, 2024 20:44

Small Industries Development Bank of India (Sidbi) reported a 20% jump in its FY24 net profit to a record Rs 4,026 crore, driven by strong income growth and loan portfolio expansion.

Mumbai, Sep 25 (PTI) Small Industries Development Bank of India (Sidbi) on Wednesday reported a 20 per cent jump in its FY24 net profit to hit an all-time high of Rs 4,026 crore.

Its overall income surged 79 per cent to Rs 31,942 crore during the last fiscal, as per a statement.

The Lucknow-headquartered bank said its asset base grew 30 per cent to Rs 5.22 lakh crore as of March 2024, up from the Rs 4.02 lakh crore in the year-ago period.

Loans and advances portfolio increased by 28 per cent in FY24 to Rs 4.56 lakh crore from Rs 3.56 lakh crore in the year-ago period.

The gross non-performing assets ratio stood at 0.02 per cent as of March 31, 2024.

The bank, which held its annual general meeting, has also announced a dividend of 20 per cent for FY24, as per the statement.

Source: PTI

MORE NEWS

Sun Pharma Launches Fexuclue for Erosive...

Sun Pharma launches Fexuclue, a new treatment for Erosive Esophagitis, offering hope...

Tata Motors Shares Plunge 13% on JLR US Tariff...

Tata Motors shares plummeted 13% after Jaguar Land Rover paused US shipments due to...

Metropolis Healthcare Acquires DAPIC for Rs 35...

Metropolis Healthcare to acquire DAPIC, a Dehradun-based pathology and imaging centre,...

Auto Retail Sales Rise 6% in FY25: FADA

India's automobile retail sales grew 6% in FY25, driven by strong rural performance....

Stock Market Crash: Rs 20.16 Lakh Cr Lost in...

Indian stock market crashes, wiping out Rs 20.16 lakh crore in investor wealth. Sensex...

India's Exports to US May Drop by $5.76 Billion...

India's exports to the US are projected to decline by USD 5.76 billion due to new...

MOSPI Launches Revamped Microdata Portal, AI Tool

MOSPI has launched a new Microdata portal, an AI-based classification tool, and a...

Sensex, Nifty Crash 5% Amid Global Market Meltdown

Indian stock market indices, Sensex and Nifty, plunged over 5% in early trade mirroring...

Rupee Drops 19 Paise to 85.63 Against US Dollar

The Indian rupee weakened against the US dollar in early trade on Monday, impacted by...

Macrotech Developers Q4 Sales Up 14%, FY25...

Macrotech Developers, the company behind the Lodha brand, reported a 14% surge in Q4...

Sidbi Net Profit Surges 20% to Record Rs 4,026 Cr in FY24

You May Like To Read

MORE NEWS