ESAF Small Finance Bank posts 80.1cr June quarter profit
Business
ESAF Small Finance Bank just made a strong comeback, posting a ₹80.1 crore profit for the June quarter after being in the red last year.
The big turnaround was driven by a 54.7% jump in net interest income and total income crossing ₹1,300 crore, a clear sign things are looking up.
ESAF operating profit 349cr pre-tax 107cr
The bank's operating profit before provisions shot up to ₹349 crore, and pre-tax profit hit ₹107 crore (way better than last year's loss).
Asset quality also improved, with bad loans dropping and capital strength rising thanks to new bonds.
Investors noticed too: ESAF's stock price jumped 10% after the results before settling up over 5%.