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.