Strong Q4 results: This bank records a 59 per cent increase in net profit

Board recommended a maiden dividend of Rs 1 for FY23.

Equitas Small Finance Bank has reported a 59.02 per cent rise in its net profit at Rs 190.04 crore Q4FY23 as compared to Rs 119.51 crore for the same quarter in the previous year. The total income of the bank increased by 33.57 per cent at Rs 1,394.42 crore for Q4FY23 as compared to Rs 1,043.98 crore for the corresponding quarter previous year. 

In FY23 the bank has reported over 2-fold jump in its net profit at Rs 573.59 crore as compared to Rs 280.73 crore for the previous year. The total income of the bank increased by 20.87 per cent to Rs 4,831.46 crore for the year under review as compared to Rs 3,997.23 crore as compared to the previous year. 

DSIJ offers a product 'Upstream' with recommendations for contrarian stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here 

Equitas Small Finance Bank is a small finance bank founded in 2016 as a microfinance lender. The bank has its headquarters in Chennai and is a subsidiary of the holding company Equitas Holdings Ltd. 

Equitas Small Finance Bank is currently trading at Rs 76.35, up by 3.50 points or 4.80 per cent from its previous closing of Rs 72.85 on the BSE. 

The scrip opened at Rs 75.40 and touched a high and low of Rs 78.35 and Rs 74.80, respectively. So far 671851 shares were traded on the counter. 

The Institutions holding in the company stood at 65.66 per cent, while Non-Institutions held 34.34 per cent.