Suryoday Small Finance Bank on Thursday reported a net profit of Rs 75 crore for the first quarter of the fiscal, more than double of the year-ago period's Rs 35 crore, backed by a healthy business growth.The bank's operating profit grew 27% year-on-year at Rs 139 crore against Rs 109 crore, backed by 28% rise in net interest income at Rs 316 crore.Its gross advances expanded by 33% year-on-year to Rs 14,376 crore at the end of June. The lender's gross non-performing assets ratio improved to 6.5% from 8.5% a year prior.
Suryoday SFB Q1 profit more than doubles on strong loan growth
Suryoday Small Finance Bank reported a more than twofold rise in first-quarter net profit to Rs 75 crore, driven by healthy business growth. Net interest income, operating profit and advances increased strongly, while gross NPAs improved significantly from a year earlier.
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