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A second straight sequential loss for the Thrissur, Kerala-based lender pushed the shares down over 6% to a 52-week low on Tuesday, February 11.
The SFB had reported a loss of ₹190 crore for the previous September quarter of the current fiscal. On the NSE, the stock also plunged 6.3% to hit a year’s low of ₹32.82 per share.
Provision for bad loans and contingencies soared to ₹409.77 crore in the December quarter against ₹137.84 crore in the year-ago period.The small finance bank reported a drop in total income to ₹1,061.78 crore in the December quarter from ₹1,094.35 crore in the same quarter of the preceding fiscal, mainly due to lower interest income.
The Bank reported a Net Interest Income (NII) of ₹487 crore, with a Net Interest Margin (NIM) of 8.64%.
Its provision coverage ratio (PCR) rose to 78.58% as of December 2024 from 73.70% in September 2024. The Gross NPA was at 6.96% of advances. The Net Non-Performing Asset (NNPA) ratio stood at 2.97% in December 2024, compared to 2.98% in the preceding quarter.
(Edited by : Sriram Iyer)
