Money & Banking

Ujjivan SFB Q4 net profit up 14.6%

Our Bureau Mumbai | Updated on May 28, 2020 Published on May 19, 2020

 Ujjivan Small Finance Bank registered a 14.6 per cent increase in its net profit in the fourth quarter of 2019-20 to ₹73.1 crore compared to ₹63.78 crore a year ago.

Its net profit surged by 75.6 per cent in 2019-20 to ₹349.92 crore from ₹199.22 crore in 2018-19.

For the quarter ended March 31, 2020, its total income grew 34.4 per cent to ₹809.65 crore from ₹602.23 crore a year ago.

Net interest income grew 46 per cent in the fourth quarter of 2019-20 to ₹ 466 crore. Net interest margin improved to 11.2 per cent from 10.8 per cent a year ago.

Provisions surged to ₹ 96.88 crore from ₹12.37 crore a year ago. It has made Covid-related provisions of ₹ 70 crore.

Gross non-performing assets amounted to ₹137.14 crore or 0.97 per cent of gross advances as on March 31, 2020 from 0.92 per cent a year ago.

Net NPAs stood at 0.2 per cent as on March 31, 2020 versus 0.26 per cent a year ago.

“Business remains on strong fundamentals with high capital adequacy and liquidity, strong credit quality and improved processes and efficiencies. We expect the mass market to show resilience and recover strongly,” said Nitin Chugh, MD and CEO, Ujjivan SFB.

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Published on May 19, 2020
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