ESAF Small Finance Bank suffered a Rs 116 crore net loss for the second quarter of the fiscal against a Rs 190 crore loss in the year-ago period.
This was the bank’s fifth quarterly loss in a row, as it was hit severely by microfinance stress. Its gross non-performing assets ratio jumped further to 8.54% at the end of September from 7.48% at the beginning of the fiscal and 6.98% a year back.
The bank, however, made lower provisions at Rs 249 crore as compared with Rs 340 crore earlier.
The pre-provision operating profit stood 35% lower at Rs 93 crore against Rs 143 crore in the year-ago period. Income from operations was also lower at Rs 965 crore as compared with Rs 1,093 crore.