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Earnings

Ujjivan Small Finance Bank rallies 6% as Q4 net profit rises 15%

Updated : May 21, 2020 10:55 AM IST

The bank has made total provision of Rs 70 crore on account of COVID-19.

Net Interest Income in Q4FY20 increased 46 percent to Rs 466 crore.

Shares of Ujjivan Small Finance Bank rallied over 6 percent on Wednesday after it reported a 15 percent rise in net profit to Rs 73.15 crore for the fourth quarter of fiscal year 2020. The bank had posted a net profit of Rs 63.78 crore in the year-ago period.

The stock gained 6.02 percent to hit an intraday high of Rs 28.15 on the BSE. At 11 am, the shares were trading 3.01 percent higher at Rs 27.35 per share.

Net Interest Income in Q4FY20 increased 46 percent to Rs 466 crore while Net Interest Margin rose to 11.2 percent as against 10.8 percent, YoY.

On asset quality front, gross non-performing assets during Q4FY20 increased to Rs 137.14 crore from Rs 129.45 crore while net NPA declined to Rs 274.9 crore from Rs 514.9 crore, QoQ.

The bank has made total provision of Rs 70 crore on account of COVID-19.

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

The bank’s gross advances in Q4FY20 were at Rs 14,153 crore, a growth of 28 percent YoY. Deposit base stood at Rs 10,780 crore as of March 2020 covering 76 percent of total advances against 67 percent as of March 2019.

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