ESAF Small Finance Bank Q1 results: Net profit falls 52% to Rs 63 cr

Quick Summary:

The bank's asset quality worsened with Gross Non-Performing Assets (NPAs) surging to 6.61 per cent of gross advances as of June 30, 2024, from 1.65 per cent by the end of first quarter of the previous fiscal.Net NPAs also rose to 3.22 per cent of the advances, from 0.81 per cent at the end of first quarter last year.

ESAF Small Finance Bank on Friday reported 52 per cent decline in June quarter net profit at Rs 63 crore due to increase in bad loans.

However, total income increased to Rs 1,138 crore from Rs 992 crore a year ago, ESAF Small Finance Bank said in a regulatory filing.

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Category: BusinessFinance

Markets: India

Topics: Bank Banking sector Q1 results Small finance bank Corporate earnings ESAF Small Finance Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 19:50:59 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 363 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21784954

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