Equitas Small Finance Bank Q4 Profit Rises to Rs 207.62 cr

Chennai, Apr 24 (PTI) Equitas Small Finance Bank Ltd has registered a net profit after tax at Rs 207.62 crore for the January-March 2024 quarter, the bank said on Wednesday.

The private sector lender had registered a profit after tax at Rs 190.03 crore during the corresponding quarter of last financial year. For the year ending March 31, 2024 the net profit after tax stood at Rs 798.96 crore, as against Rs 573.59 crore registered year ago, the bank said in a BSE filing.

Total income during the quarter under review surged to Rs 1,685.10 crore from Rs 1,394.41 crore registered during the same quarter of last financial year. For the year ending March 31, 2024 the total income went up to Rs 6,285.07 crore as against Rs 4,831.46 crore registered during the corresponding period of last financial year.

Meanwhile, the Board of Directors at its meeting held today proposed a dividend of Re 1 per share subject to the approval at the ensuing Annual General Meeting of the bank.

The Board also approved the appointment of Anil Kumar Sharma as an additional director (Independent) and Part-Time Chairman of the bank for a period of five years with effect from April 25. He succeeds Arun Ramanathan who cease to be the Part-Time Chairman and Independent Director of the bank from the close of business hours on April 24.