Jana SFB Q3FY24 results: Net profit rises 12.82% to Rs 134.64 crore

22 February 2024

Jana Small Finance Bank has reported a 12.82% year-on-year growth in its third quarter ended December 2023 (Q3 FY24), reaching Rs 134.64 crore, up from Rs 119.34 crore the previous year. Its net interest income has increased by 24.4% year-on-year to Rs 548.5 crore in Q3, up from Rs 440.8 crore in Q3 FY23. According to a filing with BSE, the other income stood at Rs 139.5 crore in Q3 FY24, down from Rs 170.21 crore in Q3 FY23. This was the first quarterly performance disclosed after the bank's shares were listed on the exchange.

As of December 31, 2023, the loan book of Jana Small Finance Bank has grown by 28.4% year-on-year to Rs 23,610 crore. Secured loans grew by 39.7% and unsecured loans by 14.7%. The bank's deposits also grew by 36.5% to Rs 20,785 crore, with the share of low-cost money, Current Account and Savings Account (CASA), standing at 19%.

The Gross Non-performing Assets (GNPAs) of the bank stood at 2.19% at the end of December 2023, compared to 6.38% a year ago. Net NPA has also declined to 0.71% from 3.62% in December 2022.