Money & Banking

AU Small Finance Bank posts Q1 profit of ₹190 crore; scrip rises 4%

Our Bureau Mumbai | Updated on July 26, 2019

Shares of AU Small Finance Bank closed with a gain of over 4 per cent on Friday after the lender reported a 148 per cent increase in net profit for the first quarter of the fiscal.

The bank’s scrip closed at ₹659.60 apiece, up 4.15 per cent on the BSE. Intraday, it climbed by as much as 7 per cent to ₹677 apiece. The small finance bank had reported a net profit of 190 crore for the quarter ended June 30, 2019, compared to ₹77 crore a year ago.

Net profit for the first quarter came in slightly lower at ₹119 crore, if the profit from sale of equity shares in Aavas Financiers was excluded.

Net interest income rose 38 per cent to ₹396 crore in the April to June 2019 quarter, against ₹287 crore in the same period a year ago.

The bank’s gross NPAs came in at 2.1 per cent of gross assets as on June 30, 2019, against 2.2 per cent a year ago, while net NPAs were at 1.3 per cent of net assets at the end of Q1.

Published on July 26, 2019

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