Suryoday Small Finance Bank Q1 profit jumps 113% to ₹75cr
Business
Suryoday Small Finance Bank just posted a 113% jump in its Q1 profit, hitting ₹75 crore compared to ₹35 crore last year.
This big leap was powered by stronger interest earnings and less money set aside for bad loans, a sign the bank's operations are on a solid track.
Suryoday Small Finance Bank NII ₹316cr
Net interest income climbed 28% to ₹316 crore, and other income (think fees and investment gains) rose 36% to ₹147 crore.
The bank also cut provisions for risky loans by 41%.
On the quality front, gross NPAs dropped from 8.46% to 6.60%, while net NPAs fell sharply from 5.64% to just 1.27%.