Suryoday Small Finance Bank gains over 2% after Q1 net profit increases 47% YoY; check details

Suryoday Small Finance Bank Ltd shares gained more than 2% to hit an intraday high of ₹202 apiece on the NSE on Friday, August 2, after the lender reported strong growth in net profit and total income in the June quarter of FY25.

In Q1FY25, the bank posted more than 47% YoY rise in its net profit at ₹70.06 crore compared to ₹47.6 crore in Q1FY24. The net profit of the bank for the June quarter of FY25 grew more than 15% QoQ from ₹60.84 crore in the March quarter of FY24.

Suryoday Small Finance Bank’s total income for Q1FY25 surged over 36% to ₹558.27 crore compared to ₹409.13 crore in Q1FY24. Sequentially, the lender’s total income also surged 9% from ₹509.36 crore in Q4FY24, the quarterly results, filed with the stock exchanges on August 1, showed.

Its net interest income increased over 30% YoY in Q1FY25 to ₹293.2 crore from ₹224.7 crore in the year-ago period. The bank’s net interest income for Q1FY25 also increased by over 8% QoQ from ₹270.8 crore in Q4FY24.

Suryoday Small Finance Bank’s Net Interest Margin (NIM) for Q1FY25 decreased by 5 bps to 10% from 10.1% in Q1FY24. The bank’s NIM also declined by 8 bps from 10.1% in Q4FY24.

The bank’s gross advances increased nearly 42% YoY and stood at ₹9,037 crore in Q1FY25 against ₹6,372 crore in Q1FY24. The bank also witnessed a growth in its gross advances of 4.5% QoQ from ₹8,650 crore in Q4FY24.

Suryoday Small Finance Bank’s disbursements grew over 46% to ₹1,740 crore in Q1FY25 from ₹1,190 crore in Q1FY24. The bank’s deposits increased by over 42% to ₹8,137 crore in the June quarter from ₹5,722 crore in the year-ago period.

The private sector lender’s Current Account Savings Account (CASA) ratio improved by 276 basis points to 17.7% in Q1FY25 from 14.9% in Q1FY24.

Suryoday Small Finance Bank’s Net Non-Performing Assets (NNPA) Ratio improved by 116 bps to 0.4% in Q1FY25 from 1.6% in Q1FY24. The bank’s NNPA also improved sequentially by 38 bps from 0.8% in Q4FY24.

Shares of Suryoday Small Finance Bank closed 1.31% higher at ₹199.9 apiece on the NSE.