Equitas Small Fin Q4 net profit zoomed 162.37% at Rs 112.87 cr
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The bank reported standalone net profit of Rs 112.87 crore for the quarter ended March 31, 2021 as compared to Rs 43.02 crore in the same period last year, registering a year-on-yearÿgrowthÿof 162.37 per cent. Interest income of the bank rose by 12.74 per cent at Rs 818.34 crore for the quarter ended March 31, 2021 as against Rs 725.87 crore in the corresponding period last year.
During the January-March quarter, total income rose substantially by 24.68 per cent to Rs 996.74 crore from Rs 799.47 crore in the year ago period. Meanwhile, operating expenses increased by 45.13 per cent to Rs 746.89 crore from Rs 514.62 crore in the same period last year. Operating profit slipped 12.29 per cent to Rs 249.85 crore from Rs. 284.85 crore. Provisions and Contingencies slipped by 25.38 per cent at Rs 96.98 crore from Rs 129.97 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 5.79 per cent at Rs 448.57 crore versus Rs 424.00 crore in the year ago period. Non-interest income rose 142.39 per cent year-on-year to Rs 178.40 crore.
On the asset side, gross non- performing assets (NPAs)ÿroseÿto 3.73 per cent of the gross advances as at the end of March 31, 2021 from a level of 2.72 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 1.58 per cent of net advances on March 31, 2021 from 1.66 per cent a year ago.
