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Informist, Thursday, May 8, 2025

 

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--Suryoday Small Fin Bk Jan-Mar net loss INR 337.80 mln vs 608.40 mln PAT 
--Suryoday Small Fin Bk Jan-Mar total income INR 5.31 bln vs 5.09 bln yr ago 
--Suryoday Small Fin Bk Jan-Mar provisions INR 934.20 mln vs 481.60 mln 
--Suryoday Small Fin Bk FY25 PAT INR 1.15 bln vs INR 2.16 bln year ago 
--Suryoday Small Fin Bk FY25 total income INR 21.71 bln vs INR 18.08 bln 
--Suryoday Small Fin Bk gross NPA ratio 7.16% as on Mar 31 vs 5.53% qtr ago 
--Suryoday Small Fin Bk net NPA ratio 4.58% as on Mar 31 vs 3.13% qtr ago 
--Suryoday Small Fin Bk capital adequacy ratio 25.83% as on Mar 31 
 

 

By Vidhushi RajPurohit

 

MUMBAI – Suryoday Small Finance Bank Ltd. reported a net loss for the March quarter, despite posting growth in its total income, due to a rise in the bank's provisions and other operating expenses. For Jan-Mar, the bank posted a consolidated net loss of INR 337.8 million, against a net profit of INR 608.4 million a year ago. For Oct-Dec, the company posted a net profit of INR 333.0 million. 

 

The bank's provisions rose sharply in the quarter ended March to INR 934.20 million, from INR 481.60 million a year ago. Sequentially, the provisions were up 177.9%. The spike in the provision figure, coupled with a jump in the bank's other operating expenses, which rose 44.3% on year, added to the total expenses of the bank at INR 4.84 billion, up over 27% on year.

 

"The Bank had balance of INR 337 million in floating provision as at Mar. 31, 2024. The Bank has created INR 246.4 million during the year and utilised INR 212.7 million for setting off losses on sale of stressed asset to ARC (asset reconstruction company), the balance as on March 31 is INR 370.7 million," the bank said in the notes of its financial results. "The same has been used for calculation of net NPA and provision coverage ratio."

 

The asset quality of the bank also deteriorated, with the gross non-performing asset ratio rising to 7.16% as of Mar. 31 from 5.53% last quarter. The net non-performing asset ratio also increased to 4.58% from 3.13% in the previous quarter. 

 

The total income of the bank during the reporting quarter, however, rose to INR 5.31 billion from INR 5.09 billion a year ago. For 2025-26 (Apr-Mar), the total income was up 20% at INR 21.71 billion.

 

The bank's advances rose 23.5% on year to INR 99.74 billion. Meanwhile, deposits increased to INR 105.80 billion, up 36%. The capital adequacy ratio stood at 25.83% as of Mar. 31. On Thursday, shares of the small finance bank closed 3.5% lower at INR 122.88 on the National Stock Exchange.  End

Edited by Tanima Banerjee

 

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