India's Suryoday Small Finance Bank rises on Q4 profit jump

Suryoday Small Finance Bank

10/05/2024 09:03

** Shares Suryoday Small Finance Bank  SURO.BO  rise as much
as 6% to 214.50 upees; last up 1.3% 
    ** The lender reported a 56.4% Y/Y jump in its March-qtr
profit to 608.4 mln rupees ($7.3 mln)
    ** Interest earned rose 35% to 4.45 bln rupees; provisions
and contingencies fell 6.4% to 481.6 mln rupees
    ** Co sees advances growth of 30%-35% and deposits growth of
40%-45% for FY25
    ** Its net interest margin (NIM), a key gauge of
profitability for banks, fell to 10.1% in the fourth quarter
from 10.4% Y/Y
    ** Over 144,000 shares change hands as of 1:28 p.m. IST, 1x
the 30-day moving average
    ** Including session's gain, stock is up 31% YTD 

($1 = 83.4950 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))