Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.