Utkarsh Small Finance Bank Q3 Results: Profit Jumps 24% To Rs 116 Crore

Utkarsh Small Finance Bank on Saturday posted a 24% 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.

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.

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

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