Advertisement

Business

Updated on: Friday, November 12, 2021, 10:11 AM IST

Suryoday Small Finance Bank reports Rs 2 cr loss in Q2 as NPA rises

Suryoday Small Finance Bank which was listed on the bourses in late-March 2021, had reported a net profit of Rs 27.24 crore in the second quarter a year ago, the bank said in a regulatory filing. |

Suryoday Small Finance Bank which was listed on the bourses in late-March 2021, had reported a net profit of Rs 27.24 crore in the second quarter a year ago, the bank said in a regulatory filing. |

Advertisement

Suryoday Small Finance Bank (SFB) on Thursday posted a loss of Rs 1.92 crore in the second quarter ended September 2021 on account of rise in bad loans.

The bank, which was listed on the bourses in late-March 2021, had reported a net profit of Rs 27.24 crore in the second quarter a year ago, the bank said in a regulatory filing.

Total income in the quarter under review rose to Rs 267.86 crore, from Rs 212.78 crore in the year-ago period.

On the assets quality front, the bank's gross non-performing assets (NPAs) or bad loans soared to 10.21 per cent of the gross advances by the end of September 2021 as against 2.25 per cent by September 2020.

Net NPAs also moved up at 4.49 per cent as against 0.46 per cent at the end of second quarter of the last financial year.

As a result, provisions for bad loans and contingencies for the quarter was higher at Rs 97.2 crore, against Rs 14.6 crore same period a year ago.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Friday, November 12, 2021, 10:11 AM IST
Advertisement