Jana Small Finance Bank on April 29 reported a net profit of Rs 321 crore for the January-March quarter of the financial year 2023-24, jumping 301 percent from Rs 80 crore recorded last year.
The net interest income of the lender grew to Rs 2,127 crore in FY24 versus Rs 1,660 crore in FY23, up 28.1 percent.
The gross non-performing assets (GNPA) improved to 2 percent as against 3.6 percent and NNPA improved to 0.5 percent against 2.4 percent. The net interest margin (NIM) of the bank improved to 8 percent in FY24 as against 7.8 percent in FY23.
For FY24, profit after tax (PAT) stood at Rs 670 crore compared to Rs 256 crore in FY23, registering a growth of 162 percent. Total loan stood at Rs 24,746 crore, growing by 24.9 percent YoY and deposits stood at Rs 22,571 crore, growing by 38 percent.
Shares of the bank closed for trading at Rs 499.20 a piece on the BSE, 1.64 percent down.
Bank IPO
Jana Small Finance Bank's IPO saw a decent response from investors on February 7, the first day of the three-day subscription period. Investors picked 89.39 lakh equity shares of the company against an IPO size of 1.01 crore equity shares, resulting in a total subscription of 88 percent.
Retail investors bought 1.2 times the allotted quota and non-institutional investors (high networth individuals) 1.22 times the portion set aside for them, while the part reserved for qualified institutional buyers was subscribed by 14 percent.
Employees of the company bought 31 percent shares of the reserved portion. The small finance bank has reserved equity shares worth Rs 13.5 crore for its employees.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
