Utkarsh Small Finance Bank Limited experienced a significant uptick in its shares, rising nearly 3% after the bank revealed its standalone financial results for the period ending September 30, 2023.
In the second quarter of the fiscal year 2024, the bank reported a total income of Rs. 861.4876 crores, marking a notable increase from Rs. 812.3944 crores recorded in the previous quarter ending June 30, 2023.
Furthermore, Utkarsh Small Finance Bank Limited posted a net profit of Rs. 114.4192 crores for the period ending September 30, 2023, demonstrating a strong performance compared to the net profit of Rs. 107.4952 crores reported in the quarter ending June 30, 2023.
At the time of reporting, the bank’s shares were trading 2.19% higher at ₹51.35, indicating a positive market response to the bank’s robust financial results for the second quarter of the fiscal year 2024.
