Bank Stock Under Rs 75 Jumps On BSE After Q2 Net Profit Soars 145%

ESAF Small Finance Bank Ltd shares witnessed a rally of 1.51% to Rs 69.90 per share on Monday after it reported a jump of 145% in its Q2 net profit to Rs 140 crore for July-September period from Rs 57 crore in the year ago period.

ESAF Small Finance Bank Share Performance & Return: The bank's 52-week high price is Rs 74.70 per share and 52-week low price is Rs 68.05 per share, respectively. The bank has a market capitalisation of Rs 3598.31 crore. ESAF Small Finance Bank shares declined 2.36% in last 1-week span.

ESAF Small Finance Bank Q2 Financial Performance: The bank informed BSE that its asset quality got better as it reported its gross non-performing assets (GNPA) at 2.64% against 8.11% in the corresponding period of last year. The bank announced that its NPA stood at 1.19%, up 4.34%. Meanwhile, it announced its net interest margin (NIM) at 11.98%.

Its distribution network was at 700 branches and 579 ATMs across 236 districts in 21 States and 2 union territories as of September 30, 2023. Additionally, it has 25 business correspondents and 855 customer service centres, added the regulatory filing.

Total Business grew by 32.81% to Rs. 34,906 crore from Q-o-Q Rs. 26,284 crore on Q2, 2022.

Quarterly net interest income soared from Rs. 437.27 Core for Q2 -2022 to Rs. 596.50 Crore for Q2-2023. Commenting on the quarterly performance, K. Paul Thomas, MD & CEO, ESAF Small Finance Bank said, "I am pleased to see that our bank has achieved another quarter of robust financial performance. Our steadfast focus on rural and semi-urban locations along with the sustainable model we pursue has played a pivotal role in driving this success. In line with our strategic vision, our wholehearted dedication to expanding our presence in these underserved areas, contributing not only to our bottom line but also to the economic development of these communities."