Jana Small Finance Bank Q3 Results: Net profit rises 13% YoY to Rs 135 crore

Kolkata: Jana Small Finance Bank on Thursday reported a 13.5% year-on-year rise in the third quarter net profit at Rs 135 crore, against Rs 119 crore in the year-ago period, backed by higher income and slightly lower credit cost.

The bank, which was listed on the bourses at a 4.4% discount to the IPO price of Rs 414 on February 14, said that its total income for the quarter was 20% higher at Rs 1178 crore.

Its operating profit was at Rs 295 crore against Rs 285 crore. It kept aside Rs 161 crore as provisions and contingencies in the period as compared with Rs 168 crore. Its gross non-performing assets ratio fell to 2.1% as of December 31, 2023, as against 5.8% a year back.

Jana had assets under management at Rs 23,610 crore at the end of December, reflecting a 28.4% year-on-year growth. From its origin of being an NBFC-MFI, it started its banking journey in March 2018 and diversified businesses into other areas other than microfinance, making 60% of its lending book secured mostly backed by mortgages.

Its total deposits stood at Rs 20,785 crore, growing by 36.5% year-on-year.

(You can now subscribe to our ETMarkets WhatsApp channel)

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price