AU Small Finance Bank Q2 2023-24 profit up 17% to Rs 402 cr

New Delhi, AU Small Finance Bank on Saturday reported 17 per cent rise in standalone net profit at Rs 402 crore for September quarter 2023-24 aided by improvement in interest income. The Jaipur-based lender had logged a net profit of Rs 343 crore in the year-ago period.

Total income rose to Rs 2,957 crore from Rs 2,240 crore in the same period a year ago, AU Small Finance Bank said in a regulatory filing.

Net interest income of the bank improved to Rs 1,249 crore from Rs 1,083 crore in September 2022. Net interest margin stood at 5.5 per cent at the end of September 2023.

The bank's gross non-performing assets (NPAs) stood at 1.91 per cent of gross advances at the end of the September quarter 2023 as against 1.90 per cent a year ago.

Net NPAs or bad loans rose to 0.60 per cent as against 0.56 per cent in the year-ago period. The Capital Adequacy Ratio of the bank decreased to 22.4 per cent from 23.3 per cent at the end of September 2022.