Robust Result: This small finance bank shines on reporting over a 6-fold jump in Q1 net profit, do you have it?

The stock saw a spurt in Volume by more than 1.03 times.

Suryoday Small Finance Bank has reported results for the first quarter ended June 30, 2023 (Q1FY24). The bank has reported an over 6-fold jump in its net profit at Rs 47.60 crore for the quarter under review as compared to Rs 7.75 crore for the same quarter in the previous year. The total income of the bank increased by 38.88 per cent at Rs 409.13 crore for Q1FY24 as compared to Rs 294.60 crore for the corresponding quarter previous year.

Suryoday Small Finance Bank commenced its microfinance operations in 2009 and offers a variety of asset and liability products and services designed for inclusive finance and general banking customers. The stock saw a spurt in Volume by more than 1.03 times.

Suryoday Small Finance Bank is currently trading at Rs 186.25, up by 7.35 points or 4.11 per cent from its previous closing of Rs 178.90 on the BSE. The scrip opened at Rs 189.65 and has touched a high and low of Rs 193.85 and Rs 183.05 respectively. So far 81265 shares were traded on the counter.

The BSE group 'B' stock of face value of Rs 10 has touched a 52-week high of Rs 193.85 and a 52-week low of Rs 83.45. Last one week high and low of the scrip stood at Rs 193.85 and Rs 175.00 respectively. The current market cap of the company is Rs 1966.11 crore. The promoters holding in the company stood at 23.30 per cent, while Institutions and Non-Institutions held 20.35 per cent and 56.34 per cent respectively.

Disclaimer: The article is for informational purposes only and not investment advice.