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Shares of Jana Small Finance Bank dipped up to 6.93 per cent at Rs 646.70 per share on the BSE in Tuesday’s intraday deals. This came after the bank delivered its April-June quarter results for the financial year 2024-25 (Q1FY25).
The bank’s asset quality took a slight hit in Q1FY25, with gross non performing assets (GNPA) rising to 2.51 per cent from 2 per cent in the previous quarter. The net NPAs also increased to 0.95 per cent sequentially, compared to 0.51 per cent in the March quarter of FY24.
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However, on a year on year basis the GNPA eased to 2.51 per cent from 2.68 per cent in Q1FY24 and NNPA 0.95 per cent compared to 1.01 per cent in the same quarter last year.
“Jana Small Finance Bank (Jana SFB) delivered a solid quarter growing secured assets and deposits with focus on CASA. We have a small rise in GNPA which we believe is seasonal and event driven, this will nevertheless get our full attention in the following quarters. We continue to serve aspirational India across 24 states with the aim of becoming an anchor Bank to our customers,” said Ajay Kanwal, MD and CEO, Jana Small Finance Bank.
Apart from a slight fault in asset quality, Jana Small Finance Bank reported robust financial performance with a 89 per cent increase in its net profit to Rs 171 crore for Q1FY25. This marks a rise from Rs 90 crore reported in the same period last year.
The bank's core net interest income also grew to Rs 610 crore from Rs 462 crore in the year-ago period, supported by a 25 per cent growth in advances and a slight expansion in the net interest margin to 8 per cent.
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The bank's loan book stood at Rs 25,759 crore, growing by 25 per cent Y-o-Y and 4 per cent Q-o-Q. On the other hand, the current account and savings account (CASA) deposits stood at at Rs 4,846 crore, increasing by 47 per cent Y-o-Y and 9 per cent Q-o-Q.
Non-interest income remained steady at Rs 189 crore for the reporting quarter. As of June 30, the bank's overall capital adequacy stood at 19.3 per cent, up from 18.7 per cent in the year-ago period.
Jana Small Finance Bank, a scheduled commercial bank and the 4th largest Small Finance Bank in India and serves 12 million customers. Launched in March 2018, the bank represents a robust blend of digital capabilities and a nationwide footprint spanning 22 states and 2 union territories, with operations spread across 780 branches.
At 10:42 AM; the shares of the bank were trading 6.17 per cent lower at Rs 652 per share on the BSE. By comparison, the BSE Sensex was down 0.17 per cent at 80,369 levels.
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