The company said that this is its highest-ever quarterly net profit. Its board recommended a maiden dividend of Rs 1 for FY23.
The lender’s gross advances grew 35% year-on-year to Rs 27,861 crore. Loan disbursement during the quarter at Rs 591Equitas Small Finance Bank reported a 58% jump in net profit for the March quarter at Rs 190 crore, backed by business expansion and betterment of asset quality.7 crore was its highest ever.
Its asset quality improved, with the gross non-performing assets ratio falling to 2.76% at the end of March against 4.24% a year back.