Unity Small Finance Bank Reports Q4 Net Profit of Rs 143 Crore

Unity Small Finance Bank's Q4 and FY24 profits surged, driven by higher net interest income. The bank reported a net profit of Rs 143 crore in Q4, reversing a loss of Rs 52 crore in Q4FY23. For FY24, the net profit grew 12-fold to Rs 439 crore. The bank's net interest income grew notably, up 55% to Rs 281 crore in Q4 and 75% to Rs 981 crore for FY24.

Unity Small Finance Bank on Monday reported a net profit of Rs 143 crore for the January-March quarter buoyed by higher net interest income.

The bank, promoted by Centrum Financial Services, had reported a net loss of Rs 52 crore in the March quarter of 2022-23 fiscal.

The small finance bank's net interest income grew 55 per cent to Rs 281 crore during the March quarter of FY'24.

For the full 2023-24 fiscal, Unity Bank's net profit grew 12-fold to Rs 439 crore.

Net interest income also increased 75 per cent YoY to Rs 981 crore during FY'24.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)