Suryoday Small Finance posts Q4 net loss of Rs 43.01 cr
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The bank reported standalone net loss during the quarter stood at Rs 43.01 crore as compared to net loss of Rs 15.48 crore in the previous year quarter. Interest income of the bank declined by 25.39 per cent at Rs 151.80 crore for the quarter ended March 31, 2021 as against Rs 203.47 crore in the corresponding period last year.
During the January-March quarter, total income dipped moderately by 18.18 per cent to Rs 186.36 crore from Rs 227.78 crore in the year ago period. Meanwhile, operating expenses increased by 21.68 per cent to Rs 191.59 crore from Rs 157.45 crore in the same period last year.
Operating profit slipped 107.44 per cent to Rs -5.23 crore from Rs. 70.33 crore. Provisions and Contingencies slipped by 44.09 per cent at Rs 52.73 crore from Rs 94.32 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, slipped by 55.91 per cent at Rs 57.22 crore versus Rs 129.77 crore in the year ago period. Non-interest income rose 42.16 per cent year-on-year to Rs 34.56 crore. On the asset side, gross non- performing assets (NPAs)ĸroseĸto 9.41 per cent of the gross advances as at the end of March 31, 2021 from a level of 2.79 per cent year earlier. Its net NPAs or bad loans tooĸincreasedĸto 4.73 per cent of net advances on March 31, 2021 from 0.57 per cent a year ago.
