Suryoday Small Finance Bank There was a net loss of Rs 1.9 crore for the quarter ended September 30, as compared to a net profit of Rs 27.2 crore in the year-ago period, on account of higher credit costs following the stress due to the pandemic on its borrowers.

This is the bank’s second consecutive time quarterly loss After a loss of Rs 47.7 crore in the June quarter.

Its operating profit grew 62% to Rs 82.8 crore as against Rs 51.1 crore in the same period. The bank said in a regulatory filing to stock exchanges, its net interest income of ₹147 crore reflects a growth of 34%, mainly due to increase in gross advances and lower cost of funds during the period.

But 6.6 times more provision to cover bad debt and others suffered.

The gross non-performing assets ratio rose to 10.2% at the end of September, compared to 9.5% at the end of June. Net NPA 4.5% remained flat. The provision coverage ratio was slightly higher at 71.2%.

The bank restructured loans amounting to Rs 794 crore, which was 17.7% of the gross loan, grew 21% year-on-year to Rs 4470 crore.