April 13, 2024

Sure Financial institution’s Q3 internet revenue rose to Rs 231.6 crore for the quarter ended December 31 from Rs 51.5 crore a 12 months in the past

Sure Financial institution Ltd’s fiscal third-quarter revenue surged greater than fourfold however fell wanting analysts’ estimates.

Web revenue rose to Rs 231.6 crore for the quarter ended December 31 from Rs 51.5 crore a 12 months in the past, the financial institution stated in an announcement to inventory exchanges on January 27. That compares with the Rs 415.1 crore quarterly revenue estimate of brokerage Emkay World.

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The lender’s gross non-performing property (NPA) remained regular at 2 p.c within the three months ended December 31, whereas internet NPA improved to 0.9 p.c.

Web curiosity revenue (NII) elevated 2.3 p.c from a 12 months earlier. Working revenue rose 5.4 p.c to Rs 864 crore.

The financial institution additionally reported a 13.2 p.c progress in deposits to Rs 2.4 lakh crore from final 12 months.

The present and financial savings account ratio (CASA) noticed a slight decline to 29.4 p.c within the quarter ended December 31 from 29.7 p.c within the 12 months earlier.