Suryoday Small Finance Bank: Q1 PAT grew by 47.2% y-o-y

 https://youtu.be/8zQpvLfO8TM?si=Edx-56h3N7nuHUs0


  • Suryoday Small Finance Bank:  Q1  PAT grew by 47.2% y-o-y
  • During this quarter, gross advances grew by 41.8% y-o-y and 4.5% q-o-q to Rs. 9,037 crores
  • Deposits grew by 42.2% y-o-y and 4.6% q-o-q to Rs. 8,137 crores. 
  • Asset quality has remained stable, with GNPA at 2.7% at the end of June 2024, down from 3.0% in June 2023 and 2.8% in March 2024. 
  • The bank has further increased PCR from 71.2% in March 2024 to 83.9% in June 2024. 
  • The NNPA stood at 0.4% at the end of June 2024, down from 1.6% in June 2023 and 0.8% in March 2024. 
  • Net Interest Income (NII) grew by 30.5% y-o-y and 8.3% q-o-q to Rs. 293.2 crores. 
  • Effectively managed operational efficiencies and are on track to achieve a favourable Cost to Income ratio of 57% to 58% by FY25. 
  • Cost to Income as of June 2024 stood at 60.3%. 
  • PreProvisioning Operating Profit (PPOP) grew by 23.2% y-o-y and 12.4% q-o-q to Rs. 144.3 crores
  • Profit After Tax (PAT) grew by 47.2% y-o-y and 15.1% q-o-q to Rs. 70.1 crores. 

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