The Q3 earnings of Utkarsh Small Finance Bank increases by 24% to Rs 116 crore

The Q3 earnings of Utkarsh Small Finance Bank increases by 24% to Rs 116 crore

The Q3 earnings of Utkarsh Small Finance Bank increases by 24% to Rs 116 crore

In terms of asset quality, at the end of December 2023, the bank's gross non-performing assets (NPAs) dropped from 3.58% of gross loans to 3.04 percent.

The bank's interest income during the October–December quarter of the previous fiscal year was Rs 806 crore, up from Rs 641 crore.

On Saturday, Utkarsh Small Finance Bank said that its earnings for the third quarter that concluded in December 2023 increased by 24% to Rs 116 crore.

The bank had made a net profit of Rs 93.5 crore in the same period last year. According to a regulatory statement from the bank, total income increased to Rs 889 crore in the reviewed quarter from Rs 712 crore in the same period last year. The bank's interest income during the October–December quarter of the previous fiscal year was Rs 806 crore, up from Rs 641 crore.

In terms of asset quality, at the end of December 2023, the bank's gross non-performing assets (NPAs) dropped from 3.58% of gross loans to 3.04 percent. Similarly, at the conclusion of the third quarter of FY22, net NPA, or bad loans, decreased from 0.72% to 0.19%.