Ujjivan Small Finance Bank Q4 net profit jumps 86.59% at Rs 136.49 cr
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The bank reported standalone net profit of Rs 136.49 crore for the quarter ended March 31, 2021 as compared to Rs 73.15 crore in the same period last year, registering a year-on-yearÿgrowthÿof 86.59 per cent. Interest income of the bank declined by 16.22 per cent at Rs 617.85 crore for the quarter ended March 31, 2021 as against Rs 737.49 crore in the corresponding period last year.
During the January-March quarter, total income dipped moderately by 9.20 per cent to Rs 735.14 crore from Rs 809.65 crore in the year ago period. Meanwhile, operating expenses dropped by 6.88 per cent to Rs 576.48 crore from Rs 619.05 crore in the same period last year. Operating profit slipped 16.76 per cent to Rs 158.66 crore from Rs. 190.60 crore.
Provisions and Contingencies slipped by 126.03 per cent at Rs -25.22 crore from Rs 96.88 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, slipped by 21.11 per cent at Rs 368.12 crore versus Rs 466.64 crore in the year ago period. Non-interest income rose 62.54 per cent year-on-year to Rs 117.29 crore.
On the asset side, gross non- performing assets (NPAs)ÿroseÿto 7.07 per cent of the gross advances as at the end of March 31, 2021 from a level of 0.97 per cent year earlier. Its net NPAs or bad loans tooÿincreasedÿto 2.93 per cent of net advances on March 31, 2021 from 0.20 per cent a year ago.
