Jana Small Finance Bank shares surge 19%, hit 52-week high post Q4 results
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Jana Small Finance Bank shares rallied 19% to hit a new 52-week high of Rs 592.8 in Tuesday's trade on BSE after the bank said it had doubled its March quarter net profit from ordinary activities to Rs 167 crore from Rs 81 crore in the year-ago period, backed by robust business expansion and lower credit cost. The net profit, however, comes to Rs 344 crore, reflecting a four-fold jump, if the deferred tax assets of Rs 170 crore are included. Its net interest margin, a key gauge of profitability, improved to 8% for the full year from 7.8% in FY23. Its operating profit for the quarter was 22% higher year-on-year (YoY) at Rs 342 crore, on a total income of Rs 1,291 crore against Rs 1,010 crore earlier. The bank's assets under management expanded 25% YoY to Rs 24746 crore at the end of March with the secured portfolio rising to 60%."We worked on to de-risk the portfolio and intend to raise the share of the secured book to 80% in ...