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Ujjivan Small Finance Bank reported a net loss of ₹278.83 crore in the third quarter of the fiscal year against a net profit of ₹89.66 crore.
For the quarter ended December 31, 2020, net interest income rose marginally by 1.3 per cent to ₹432.28 crore against ₹426.53 crore in the same period last fiscal.
Net Interest Margin was down at 9.7 per cent in the October to December 2020 quarter compared to 10.9 per cent in the corresponding period last fiscal.
Other income increased by 34.1 per cent to ₹100.43 crore in the third quarter of the fiscal.
Provisions surged to ₹583.45 crore in the third quarter of the fiscal against ₹30.53 crore a year ago.
Gross non-performing assets stood at one per cent of gross advances as on December 31, 2020, versus a year ago. Net NPAs were also in control at 0.05 per cent in the third quarter of this fiscal against 0.4 per cent a year ago.
“The bank has not recognised any NPAs since August 31, 2020, in line with the interim order of Supreme Court. If the said order was not given effect to, pro-forma gross NPA and net NPA would have been 4.8 per cent and 2.05 per cent, respectively,” said Ujjivan SFB in a statement on Wednesday.
“Collections in non-delinquent accounts are also moving close to pre-Covid levels; as of January 2021, around 95 per cent of customers are paying EMIs (against 91 per cent as of October 2020), which is a healthy sign,” said Nitin Chugh, Nitin Chugh, Managing Director and CEO, Ujjivan SFB.
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