AU Small Finance Bank Q3 profit surges 41pc to 528 cr

New Delhi, Jan 24 (PTI) AU Small Finance Bank Ltd on Friday reported a 41 per cent jump in net profit to Rs 528 crore for the third quarter ended December 2024 as interest income improved.

The Jaipur-based bank had earned a profit of Rs 375 crore in the same quarter of FY24.

The total income of the bank increased to Rs 4,732 crore during the quarter under review against Rs 3,186 crore in the same period last year, AU Small Finance Bank said in a regulatory filing.

The bank’s interest income rose to Rs 4,113 crore compared to Rs 2,736 crore in the third quarter of the previous fiscal.

On the asset quality front, the gross Non-Performing Assets (NPAs) increased to 2.31 per cent of the gross loans at the end of December 2024 from 1.98 per cent a year ago.

Similarly, net NPAs or bad loans also rose to 0.91 per cent from 0.68 per cent at the end of the third quarter of the previous fiscal.

As a result, the provisions and contingencies jumped to Rs 502 crore from Rs 151 crore in the same quarter a year ago.

Its total expenses rose to Rs 3,527 crore from Rs 2,528 crore in the October-December period of the preceding fiscal.

Net Interest Margin (NIM) for Q3FY25 stood at 5.9 per cent.