Suryoday SFB posts Q4 net profit of Rs 40 cr vs year-ago loss of Rs 48 cr

Suryoday Small Finance Bank (SFB) posted a net profit of Rs 38.9 crore in fourth quarter ended March 2023 (Q4FY23) as against a net loss of Rs 48.1 crore in Q4FY22. For the whole of FY23, the net profit stood at Rs 77.1 crore against loss of Rs 93 crore a year ago.

The lender's net interest income rose by 43.5 per cent year on year to Rs 210 crore in fourth quarter of FY23. Other income rose by 69.5 per cent YoY to Rs 33.92 crore.

Suryoday SFB's advances were up 20.7 per cent YoY to Rs 6,114 crore and Deposits expanded by 34.2 per cent YoY to Rs 5,167 crore in March 2023.

Its asset quality profile improved with Gross Non-performing Assets (GNPAs) declining to 3.1 per cent in March 2023 from 11.8 per cent a year ago. Its net NPAs fell to 1.5 per cent from 5.9 per cent in March 2022.

Its capital adequacy ratio stood at 33.7 per cent at end of March 2023.