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% from the 2.19% in December.
The overall capital adequacy ratio stood at 20.31 per cent as of March 31, 2024.
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