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.
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