In the course of the quarter, the financial institution raised fairness share capital together with a share premium of Rs 750 crore by means of Certified Institutional Placement on December 15, 2023.
J&Ok Financial institution on Saturday reported a 35 per cent rise in web revenue to Rs 421 crore within the third quarter ended on December 2023 on the again of a decline in dangerous loans and enchancment in core revenue.
The financial institution had earned a web revenue of Rs 311 crore within the October-December quarter of 2022. The full revenue of the financial institution elevated to Rs 3,063 crore within the quarter as in comparison with Rs 2,682 crore within the December quarter of the earlier fiscal, J&Ok Financial institution stated in a regulatory submitting.
The financial institution’s curiosity revenue rose throughout the third quarter of the present fiscal to Rs 2,881 crore, as in opposition to Rs 2,441 crore in the identical interval final fiscal. The gross non-performing asset (NPA) ratio improved to 4.84 per cent as of December 31, 2023, as in opposition to 7.25 per cent as of December 31, 2022.
Equally, the web NPA additionally declined to 0.63 per cent as in comparison with 2.08 per cent on the finish of December 2022. Provision protection ratio as of December 31, 2023, is 91.61 per cent with out taking into consideration the floating provision of Rs.124.48 crore held by the financial institution which is a part of Tier-II capital, it stated.
In the course of the quarter, the financial institution raised fairness share capital together with a share premium of Rs 750 crore by means of Certified Institutional Placement on December 15, 2023. Consequently, the Capital Adequacy Ratio of the financial institution improved to 14.18 per cent as in comparison with 13.82 per cent on the finish of December 2022.
