Shares of Suryoday Small Finance Bank rose over 6% in early trade after it announced it had received a binding bid of Rs 135.1 crore for a stressed loan portfolio from an asset restructuring firm.

The bank has received binding bids from ARC for non-performing assets (NPAs) and technically written-off portfolios with an outstanding total of Rs 492.05 crore.

The bank will conduct further tenders under the Swiss Challenge Act and make a final decision on the loan portfolio sale following current guidelines and the bank’s relevant policies.

The Navi Mumbai-based small finance bank reported total revenue of Rs 305.7 crore in the September quarter, compared to Rs 26.86 crore a year earlier. It posted a net profit of Rs 13 crore, compared with a loss of Rs 1.92 crore a year ago.

Its total non-performing assets stood at Rs 532.66 crore compared to Rs 456.47 crore a year earlier. Gross non-performing assets as a percentage of advances fell to 9.9% from 10.2% a year earlier.

Net NPA was Rs 242.44 crore compared to Rs 188.29 crore in the same period last year. On a percentage basis, net NPS rose to 4.76% from 4.48% a year ago. Shares of Suryoday SFB rose 6.26% to Rs 106.05.