Utkarsh Small Finance Bank Q3 Profit Surges 24% to Rs 116 Cr
Utkarsh Small Finance Bank reported a 24% jump in its Q3 profit to Rs 116 crore, driven by strong interest income and improved asset quality. Gross NPAs declined to 3.04% from 3.58% a year ago.
New Delhi, Jan 27 (PTI) Utkarsh Small Finance Bank on Saturday posted a 24 per cent increase in its profit at Rs 116 crore in the third quarter ended December 2023.
The bank had earned a net profit of Rs 93.5 crore in the same quarter a year ago.
Total income rose to Rs 889 crore during the quarter under review as against Rs 712 crore in the year-ago period, the bank said in a regulatory filing.
The bank's interest income grew to Rs 806 crore as compared to Rs 641 crore in the October-December period of the previous financial year.
As regards asset quality, gross Non-Performing Assets (NPAs) of the bank declined to 3.04 per cent of the gross loans by the end of December 2023 from 3.58 per cent a year ago.
Similarly, net NPAs or bad loans came down to 0.19 per cent from 0.72 per cent at the end of the third quarter in FY22.
The bank had earned a net profit of Rs 93.5 crore in the same quarter a year ago.
Total income rose to Rs 889 crore during the quarter under review as against Rs 712 crore in the year-ago period, the bank said in a regulatory filing.
The bank's interest income grew to Rs 806 crore as compared to Rs 641 crore in the October-December period of the previous financial year.
As regards asset quality, gross Non-Performing Assets (NPAs) of the bank declined to 3.04 per cent of the gross loans by the end of December 2023 from 3.58 per cent a year ago.
Similarly, net NPAs or bad loans came down to 0.19 per cent from 0.72 per cent at the end of the third quarter in FY22.
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