Equitas Small Finance Bank reported 80% fall in net profit to Rs 42.11 crore during the quarter ended March due to increased provisioning. The bank had posted a net profit of Rs 207.62 crore in the year-ago period.
The bank's total income rose to Rs 1,869.41 crore during the January-March quarter of fiscal 2025, compared to Rs 1,685 crore in the same period last year.
Regarding asset quality, the gross non-performing assets ratio increased to 2.89% in the reviewed quarter, up from 2.61% a year earlier. Conversely, net NPAs, or bad loans, improved to 0.98%, down from 1.17% at the close of the fourth quarter of the previous fiscal.
The gross NPAs amounted to Rs 1,068 crore during the reviewed period, higher than Rs 821.3 crore recorded in the January-March quarter of fiscal 2024.
Provisions, excluding taxes and contingencies, rose to Rs 258 crore from Rs 107 crore, while the bank's net worth stood at Rs 6,073 crore as of March 31, 2025.
(With PTI inputs).
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