Shares of Sure Financial institution Ltd. gained over 4% on Monday after the personal lender’s internet revenue rose within the first quarter of fiscal 2025 on decrease provisions, beating analysts’ estimates.
The standalone internet revenue elevated 46.4% year-on-year to Rs 502.4 crore for the quarter-ended June 30, 2024, in comparison with a Bloomberg estimate of Rs 376.4 crore. Sequentially, the revenue rose 11.1%.
Web curiosity earnings, or core earnings for the lender stood at Rs 2,243 crore, up 12.2% year-on-year. Web curiosity margin, a key profitability indicator, stayed flat sequentially at 2.4%.
Provisions for the quarter fell 41.1% year-on-year to Rs 211.7 crore.
