 "Jana Small Finance Q4 results: Net profit jumps multi-fold to Rs 322 cr")
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.
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.
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.
(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.)
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