Mumbai, Apr 29 (PTI) Jana Small Finance Bank on Monday reported a multi-fold jump in March quarter net profit at Rs 321.67 crore on the back of gains from a tax write-back.

The Bengaluru-headquartered lender had reported a net profit of Rs 80.99 crore in the year-ago period and Rs 134.64 crore in the quarter-ago period.

Also Read | What Is Streedhan? Everything You Need to Know About Stridhan, a Woman’s Right aka ‘Property of Woman’ As per Hindu Succession Act.

Its net profit for FY24 increased to Rs 669.54 crore, up from the year-ago period's Rs 255.97 crore.

For the quarter under review, its total income rose to Rs 1,290.94 crore, from Rs 1,009.78 crore in the quarter-ago period.

Also Read | When Is Maharashtra Day 2024? Know About Maharashtra Din Date, History, Celebrations and Significance.

The total expenditure came at Rs 949 crore for the reporting quarter, while the provisions were at Rs 175 crore.

However, a tax write-back of Rs 155 crore helped the bank report the handsome profit growth for the quarter.

Its gross non-performing assets ratio improved to 2.11 per cent from the 2.19 per cent in December.

The overall capital adequacy ratio stood at 20.31 per cent as of March 31, 2024.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)