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Jana Small Finance Bank reported a significant increase in net profit for the first quarter of fiscal year 27. During the reporting period from April to June, the bank demonstrated a 52% growth in net profit compared to the same period last year, reaching 155 crore rupees. This success was attributed to a strong increase in net interest income, active growth in the loan portfolio, and expansion of the secured loan portfolio.

First Quarter Financial Performance

Net Interest Income (NII) increased by 33.4% year-on-year, amounting to 782 crore rupees. Meanwhile, other incomes slightly decreased, falling to 215 crore rupees from 235 crore rupees the previous year. The bank's Net Interest Margin (NIM) consistently rose by 30 basis points, reaching 7.5% in the first quarter of FY27.

Provisioning and Write-offs

Provisions and unforeseen expenses slightly decreased to 178 crore rupees in Q1 FY27, compared to 187 crore rupees the previous year and 195 crore rupees in Q4 FY26. Write-offs also decreased sequentially by 13%, totaling 291 crore rupees.

Loan Portfolio Growth

The volume of loans disbursed increased by 26% year-on-year and 4% sequentially, reaching 37,612 crore rupees. The secured portfolio grew by 29% year-on-year and 4% sequentially. The gold loan segment showed the fastest growth, increasing by 113% year-on-year, followed by auto loans, which grew by 78%. Growth in the affordable housing segment reached 29%, and MSME loans grew by 27%. Conversely, the growth of the Loan Against Property (LAP) microloan portfolio slowed to 5% year-on-year.

Structure and Deposits

Currently, the secured portfolio accounts for almost 73% of the total outstanding loans. Meanwhile, the unsecured portfolio grew by 18% year-on-year and 3% sequentially, reaching 10,240 crore rupees. Deposits, in turn, increased by 22% year-on-year, totaling 35,756 crore rupees.

Forecasts and Ownership Status

For fiscal year 27, the bank forecasts asset growth of 19–21%, deposit growth of 23–25%, and profit increase of over 80%. The bank also clarified that Jana Holdings and Jana Capital, the current promoters, were classified as being in technical default on the payments of Non-Convertible Debentures (NCD) after extending the maturity of these instruments by six months to provide additional time to sell their stake.

De-promoterization and Ratings

Jana Holdings' stake in the bank decreased from a peak of 44% to 16.9%. Both Jana Holdings and Jana Capital plan to seek approval for de-promoterization from the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) once their stake falls below 9.99%. It was noted that Jana Holdings has not injected capital into the bank since June 2022, has no representation on the bank's board of directors, and there are no cross-holdings between the entities. The bank also assured that there is no cross-default link between the debt of Jana Small Finance Bank and the debt of Jana Holdings or Jana Capital. Although India Ratings placed the bank under 'watch' following actions against Jana Holdings and Jana Capital, the bank stated that operations continue as usual. Meanwhile, CARE Ratings confirmed the bank's rating without any changes.

Yotta Data Services, a company specializing in artificial intelligence infrastructure and data centers, announced the raising of approximately $150 million from non-institutional investors. The company's valuation was set at approximately 37,000 crore rupees.

Goals of Capital Raising

The raised capital is intended to strengthen the company's financial position through growth and to support the next stage of expansion. The company emphasized that all attracted funds will be directed towards accelerating growth, and there was no Offer for Sale (OFS) from shareholders in this round.

AI Infrastructure Development Plans

Yotta continues to assess interest from long-term institutional investors while maintaining its course toward its pre- and post-IPO plan, although the timeline for this has not been disclosed. Previously, there were reports that the company was raising funds through global funds or via listing.

The company stated that its current valuation is based on fundamental business metrics, revenue from long-term contracts, and execution visibility. Yotta expects this valuation to increase as its AI infrastructure capacity grows and new client agreements are signed.

Operational Plans and Vision

Operationally, Yotta plans to increase its AI cloud platform to over 40,000 Nvidia Blackwell GPUs within the next four months, and to approximately 85,000 GPUs by the end of the current fiscal year. This will enable it to become one of the largest AI computing platforms outside the US and China.

The company continues to support sovereign cloud and AI initiatives in India while scaling up services for global AI model developers and inference providers. Yotta's long-term goal is to help India become a producer of AI infrastructure and intelligence, rather than just a consumer.