Jana Small Finance Bank Q4 net profit jumps to Rs 321 crore, asset quality healthy

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 loans stood at Rs 24,746 crore, growing by 24.9 percent YoY and deposits stood at Rs 22,571 crore, growing by 38 percent.