The small finance bank opened today’s trade session in the green at ₹102.7, an increase of 3.88%. It gained 6.92% to hit an intra-day high of ₹105.75 apiece.
At present, the stock is trading over 53% lower from its 52-week high of ₹219.55 on the BSE.
On Monday, the bank received a notification from Ramachandran, the Promoter and Managing Director & CEO, that he purchased 1,50,000 equity shares from the open market.
As a result, the total promoter group holding in the bank has increased to 22.44% (up from 22.30%), while Ramachandran’s individual holding rose to 5.18% from 5.04% earlier.
The promoter’s holdings are in compliance with regulatory requirements and the RBI’s pre-approved limits, the bank said.
Suryoday Small Finance Bank reported a 41.8% decline in its December quarter net profit. Despite the decline in net profit, the bank witnessed a 9.2% increase in net interest income (NII), which rose to ₹268.3 crore from ₹245.7 crore year-on-year (YoY).
However, the bank’s asset quality deteriorated, as gross non-performing assets (GNPA) increased to 5.53%, up from 3.03% in the previous quarter (QoQ). The decline in profitability was mainly due to a 31% rise in total expenses, which grew to ₹456 crore.
Shares of Suryoday Small Finance Bank were trading 5.21% higher at ₹ 104.05 on the BSE around 10 am.
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