Ujjivan Small Finance Bank Q1FY21; profit falls by ~42% yoy

Provisions and Contingencies increased by six-fold yoy in Q1FY21 to ~Rs140cr.

Jul 31, 2020 05:07 IST India Infoline News Service

Quarterly Results
Ujjivan Small Finance Bank announced its quarterly results on July 31, 2020. Total Income grew by 9.8% yoy to Rs774.98cr in Q1FY21 from Rs705.5cr in Q1FY20. Net interest income (NII) stood at Rs458.01cr which witnessed a growth of 30% yoy, as against Rs352.45cr it reported in Q1FY20. Operating profit for Q1FY21 stood at Rs214.69cr which  increased by 33.1% yoy, as against Rs161.24cr inQ1FY20.              

Provisions and Contingencies increased by 646.9% yoy to Rs140.34cr in Q1FY21, as against Rs18.79cr in Q1FY20.              

Profit after tax (PAT) stood at Rs54.65cr for the quarter ending June 2020. It declined by 42.2% yoy, as compared to Rs 94.5cr it had reported in Q1FY20.              

Gross NPA in Q1FY21 stood at Rs139.82cr registering a growth of 2% qoq. Net NPA in Q1FY21 came in at Rs25.1cr witnessing a decline of 8.7% qoq. Gross NPA(%) stood at 0.97% in Q1FY21,which remained same as previous quarter . Net NPA (%) stood at 0.18% in Q1FY21, which declined by 2bps qoq, compared to 0.2% in the previous quarter. Capital adequacy ratio (%) stood at 28.68% in Q1FY21 that declined by 14bps qoq, as against 28.82% in previous quarter.              

The stock closed at Rs35 with gains of 2.49% in today’s session on BSE.

Particulars Q1FY21 (Rs in cr) Q1FY20 (Rs in cr) Change
Net interest income 458.01 352.45 30.0%
Operating profit 214.69 161.24 33.1%
Provisions and contingencies 140.34 18.79 646.9%
Net Profit 54.65 94.48 -42.2%
Particulars Q1FY21 Q4FY20 Change
Gross NPA(%) 0.97 0.97 0
Net NPA (%) 0.18 0.20 -0.02

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