Private lender Equitas Small Finance Bank Ltd on Thursday (October 19) reported a 70.2 percent year-on-year (YoY) jump in net profit at ₹198.1 crore for the second quarter that ended September 30, 2023. In the corresponding quarter last year, Equitas Small Finance Bank posted a net profit of ₹116.4 crore, the bank said in a regulatory filing.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, rose 25.6%, coming at ₹765.6 crore against ₹609.7 crore in the corresponding quarter of FY23.

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The gross non-performing asset (GNPA) stood at 2.27 percent in the September quarter against 2.75 percent in the June quarter. Net NPA came at 0.97 percent against 1.18 percent quarter-on-quarter.

In monetary terms, gross NPA stood at ₹660.5 crore against ₹770.2 crore quarter-on-quarter, whereas net NPA came at ₹279.3 crore against ₹325.1 crore quarter-on-quarter. Provisions stood at ₹63.2 crore against ₹60.1 crore quarter-on-quarter and ₹90.1 crore (YoY), the lender reported.

The results came after the close of the market hours. Shares of Equitas Small Finance Bank Ltd ended at ₹98.79, up by ₹1.01, or 1.01 percent on the BSE.

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