Jana Small Finance Bank reports strong financial results for Q1 2024, receives 'Hold' call from MarketsMOJO.
Jana Small Finance Bank, a midcap private bank, has recently announced its financial results for the quarter ended June 2024. The bank has received a 'Hold' call from MarketsMOJO, indicating a neutral stance on the stock.
According to the financials, Jana Small Finance Bank has shown positive growth in the quarter, with a score of 17 compared to 16 in the previous quarter. The bank's Profit After Tax (PAT) for the half-yearly period has seen a significant increase of 187.25% year on year, indicating a strong performance. The bank's Net Interest Income (NII) for the quarter has also shown a consistent growth trend in the last five quarters, indicating a strong income from its core business.
However, there are some areas of concern for Jana Small Finance Bank. The bank's Gross Non-Performing Assets (NPA) have reached a high of 2.62%, indicating an increase in stressed loans given by the bank. The Non-Operating Income for the quarter is also high at 118.04% of Profit Before Tax (PBT), which may not be a sustainable business model. The bank's Earnings per Share (EPS) for the quarter have also declined, creating lower earnings for shareholders.
Despite these challenges, Jana Small Finance Bank has shown a positive trend in its financial performance for the quarter ended June 2024. The bank's focus on its core business and strong PAT growth are key factors contributing to its success. Investors are advised to hold their positions on the stock and keep a close watch on the bank's performance in the coming quarters.
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