Utkarsh Small Finance Bank Sees 28% Jump in Quarterly Profit

Utkarsh Small Finance Bank reported a 28% rise in profit to Rs 137 crore in the first quarter ending June 30. This is a significant increase from the Rs 107 crore profit in the same quarter last year. The bank's total income also saw a rise, reaching Rs 1,071 crore.

Utkarsh Small Finance Bank has reported a substantial 28% increase in its first-quarter profit, posting Rs 137 crore for the period ending June 30.

This marks a notable rise from the Rs 107 crore profit recorded in the same quarter last year. Total income for the bank surged to Rs 1,071 crore, up from Rs 812 crore the previous year, according to a regulatory filing.

The bank's interest income also saw significant growth, reaching Rs 966 crore compared to Rs 720 crore in the first quarter of the previous year. Additionally, the bank's asset quality improved with gross NPAs declining to 2.78% and net NPAs dropping to 0.26%.