BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Suryoday Small Finance Bank Ltd. reported net loss of Rs 477 million in Q1 FY22 impacted by higher provisions at Rs 1.1 billion (~2.75% of assets under management) versus Rs 0.52 billion in Q4 FY21.
Lower interest reversal at Rs 78 million versus Rs 658 million in Q4 FY21 resulted in sharp more than 100% QoQ growth in net interest income.
Opex was down 5% QoQ which, coupled with strong revenue recovery, led to a positive pre provision operating profit at Rs 540 million versus a negative Rs 52 million in Q4 FY21.
Suryoday SFB's disbursements fell 66% QoQ to Rs 3.6 billion, but revived to Rs 3.6 billion in July 2021 and sustained in August 2021.
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