Jana Small Finance Bank shares surge 20%, here's why 

Shares of Jana Small Finance Bank (Jana SFB) surged 20% on Wednesday after the scheduled commercial bank reported its Q3 earnings. Sentiment was also upbeat around the stock after the bank's management said "the worst is behind us."  Jana Small Finance Bank logged a 17.8 percent year-on-year fall in net profit to Rs 110.6 crore in the third quarter compared to Rs 134.6 crore in the same period last year. The stock climbed 19.70% to Rs 438.65 against the previous close of Rs 366.45 on BSE.  

Market cap of the bank rose to Rs 4,517 crore. The lender's net interest income (NII), the difference between interest earned and interest paid, climbed 8.1 percent to Rs 593 crore from Rs 548.5 crore in Q3 FY24.

Gross non-performing assets (NPA) rose to 2.80 per cent in the last quarter, falling 2.97 percent in the previous quarter, while net NPAs slipped to 0.94 percent from 0.99 percent.

The bank's assets under management (AUM) climbed 19% to Rs 27,984 crore in Q3 with 68 percent of assets being secured.

Shares of Jana Small Finance Bank made their market debut in February 2024, when the lender raised a total of Rs 570 crore via its IPO and sold its shares for Rs 414 apiece. 

Jana Small Finance Bank, a scheduled commercial bank, is the 4th largest Small Finance Bank in India with an experience of over 16 years in lending and serving 12 million customers. The Bank was launched in March 2018, is a solid combination of a digital institution and national presence across 22 states and 2 union territories, spread across 778 branches.