Suryoday SFB Q1 profit more than doubles on strong loan growth

Suryodaya Small Finance Bank on Thursday reported Rs. 75 crore, up from a year-ago period of Rs. 35 crore was more than doubled, supporting healthy business growth.

The Bank’s operating profit on an annual basis is Rs. 109 crore against Rs. 139 crores up 27% to Rs. 316 crore supporting a 28% growth in net interest income.

At the end of June, its gross advances rose 33% year-on-year to Rs. 14,376 crores. The lender’s gross non-performing assets ratio rose to 6.5% from 8.5% a year ago.