Equitas Small Finance Bank Q1 result: Reports strong results with 97% YoY PAT growth and robust business performance
Equitas Small Finance Bank reported strong growth and steady performance in Q1FY24, with a 97% YoY increase in Profit After Tax and a 47% YoY growth in disbursements. The bank's gross advances grew by 36% YoY, and key ratios remained healthy.
Equitas Small Finance Bank Limited released its unaudited financial results for the quarter ended June 30, 2023, showing strong growth and steady performance. The bank reported a Profit After Tax (PAT) of Rs. 191 Cr in Q1FY24, marking an impressive 97% YoY growth. Quarterly disbursements reached Rs. 4,757 Cr, indicating a substantial 47% YoY growth. The bank's gross advances also grew significantly by 36% YoY, amounting to Rs. 29,601 Cr. Key ratios, such as Net Interest Margin (NIM), remained healthy at 8.76%, while the Cost to Income ratio rose to 65.05% in Q1FY24.