Shares of Jana Small Finance Bank surged 20 percent on January 22 after the company announced its Q3 FY25 results, with the management stating that "the worst is behind us."
At 11:20 AM, the stock was trading 17 percent higher at Rs 428. Year-to-date, it has gained 6 percent, outperforming the Nifty 50, which has risen by 3 percent during the same period. The stock had delivered negative monthly returns consistently from July 2024 to December 2024.
Jana Small Finance Bank reported a 17.8 percent year-on-year decline in net profit to Rs 110.6 crore for the third quarter ending December 31, 2024, compared to Rs 134.6 crore in the same period last year.
The bank's net interest income (NII), the difference between interest earned and interest paid, rose by 8.1 percent to Rs 593 crore from Rs 548.5 crore in Q3 FY24.
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Gross non-performing assets (NPA) improved to 2.80 percent in the December quarter, down from 2.97 percent in the previous quarter, while net NPA decreased to 0.94 percent from 0.99 percent.
The bank's assets under management (AUM) stood at Rs 27,984 crore as of December 2024, reflecting a 19 percent YoY growth, with 68 percent of assets being secured.
Commenting on the performance, Ajay Kanwal, MD and CEO of Jana Small Finance Bank said, "The Bank has delivered a strong quarter with improving credit quality and strong growth in secured assets. MFI business challenge have bottomed out but we remain cautious. Focus on retail CASA will get further attention given price cut."
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