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Ujjivan Small Finance Bank reported a 7.3 per cent drop in its net profit to ₹126.52 crore in Q4 FY22, against a net profit of ₹136.49 crore in the corresponding quarter last fiscal.
It reported a net loss of ₹414. 58 crore for the full fiscal FY22 against a net profit of ₹8.3 crore in FY21.
For Q4, net interest income increased 48 per cent year-on-year to ₹544 crore from ₹368 crore a year ago.
Net interest margin was up 219 basis points to 10.1 per cent against 7.9 per cent in Q4 of last fiscal.
Other income fell 10 per cent year on year to ₹102.56 crore in the January to March 2022 quarter.
Provisions increased to ₹43.79 crore in the fourth quarter of 2021-22 as against a write back of provisions of ₹28.51 crore in the fourth quarter of 2020-21.
In a statement on Thursday, the bank said total provisions stood at ₹1,330 crore covering 7.3 per cent of gross advances as on March 31, 2022, which included ₹250 crore of floating provisions.
Asset quality showed improvement on a sequential basis.
Gross non performing assets was at 7.34 per cent of gross advances as on March 31, 2022, from 9.79 per cent as on December 31, 2021, but was higher than 7.07 per cent as on March 31, 2021.
Net NPAs declined to 0.61 per cent as on March 31, 2022 versus 1.67 per cent as on December 31, 2021 and 2.93 per cent as on March 31, 2021.
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