Shares of Ujjivan Small Finance Bank gained as much as 10 percent on Tuesday after the lender posted its quarterly business update.
The bank’s disbursements witnessed a jump of 114 percent on year and 138 percent on quarter to Rs 3,122 crore, while total deposits grew 31 percent on year and three percent on quarter to Rs 14,090 crore.
The bank's gross loan book, which includes micro-banking, affordable housing, and MSE, stood at Rs 14,508 crore, up four percent on year and three percent on quarter.
Retail deposits saw a 38 percent on-year and 12 percent on-quarter surge to Rs 7,270 crore in the September quarter.
At 9:17 am, shares of Ujjivan Small Finance Bank was 6.7 percent higher at Rs 22.20.
In the past three months, the stock has fallen 28 percent while the Nifty500 rose 14 percent.
Over the past year, the bank’s net profit is down 98 percent, and the stock price has fallen by 31 percent.
Ujjivan Small Finance Bank reported a net loss of Rs 233 crore for the first quarter ended June 30, mainly due to the impact of the second wave of the pandemic on its business.
The bank had posted a net profit of Rs 55 crore in the corresponding quarter of the last financial year.
First Published: IST