April 24, 2024

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

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

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

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

Web curiosity earnings (NII) elevated 2.3 % from a yr earlier. Working revenue rose 5.4 % to Rs 864 crore.

The financial institution additionally reported a 13.2 % progress in deposits to Rs 2.4 lakh crore from final yr.

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