Utkarsh Small Finance Bank Q4 Result: Profit Rises 19% To Rs 160 Crore

Utkarsh Small Finance Bank on Friday posted a 19% rise in its net profit to Rs 160 crore for the fourth quarter ended March 2024. The bank had earned a net profit of Rs 134 crore in the same quarter a year ago.

Its total income rose to Rs 1,016 crore during the quarter under review against Rs 760 crore in the year-ago period, the bank said in a regulatory filing.

The bank’s interest income grew to Rs 896 crore from Rs 691 crore in the fourth quarter of the previous financial year.

On the asset quality front, the bank's gross non-performing assets (NPAs) declined to 2.51% of the gross loans at the March end of 2024 from 3.23% a year ago.

Similarly, net NPAs or bad loans came down to 0.03% from 0.39% at the end of the fourth quarter in FY23.

The bank declared a final dividend of Rs 0.50 per equity share of Rs 10 each, subject to shareholders' approval at the ensuing annual general meeting.

The capital adequacy ratio of the bank rose to 22.57% from 20.64% at the end of FY23.