INSUBCONTINENT EXCLUSIVE:
The interest income of Utkarsh Small Finance Bank rose to Rs 966 crore as against Rs 720 crore in the first quarter of previous year.1 min
read Last Updated : Aug 03 2024 | 8:13 PM IST
Utkarsh Small Finance Bank on Saturday posted a 28 per cent increase in its profit at Rs
137 crore in the first quarter ended June 30.
The bank had earned a net profit of Rs 107 crore in the same quarter a year ago.
Total
income increased to Rs 1,071 crore during the quarter under review against Rs 812 crore in the same period last year, the bank said in a
regulatory filing.
The interest income of the bank rose to Rs 966 crore as against Rs 720 crore in the first quarter of previous
year.
As regards asset quality, gross Non-Performing Assets (NPAs) of the bank declined to 2.78 per cent of the gross loans by the end of
June 2024 from 3.13 per cent a year ago.
Similarly, net NPAs came down to 0.26 per cent from 0.33 per cent at the end of the first quarter
of the previous fiscal.
The provision coverage ratio, including floating provision, was 91 per cent as on June 30, 2024.(Only the headline
and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a
syndicated feed.)First Published: Aug 03 2024 | 8:13 PMIST
