Latest News | Utkarsh Small Finance Bank Q3 Profit Jumps 24 Pc to Rs 116 Cr

New Delhi, Jan 27 (PTI) Utkarsh Small Finance Bank on Saturday posted a 24 per cent increase in its profit at Rs 116 crore in the third quarter ended December 2023.

The bank had earned a net profit of Rs 93.5 crore in the same quarter a year ago.

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Total income rose to Rs 889 crore during the quarter under review as against Rs 712 crore in the year-ago period, the bank said in a regulatory filing.

The bank's interest income grew to Rs 806 crore as compared to Rs 641 crore in the October-December period of the previous financial year.

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As regards asset quality, gross Non-Performing Assets (NPAs) of the bank declined to 3.04 per cent of the gross loans by the end of December 2023 from 3.58 per cent a year ago.

Similarly, net NPAs or bad loans came down to 0.19 per cent from 0.72 per cent at the end of the third quarter in FY22.

(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)