AU SFB logs 30% yoy growth in PAT at Rs393 crore in Q3FY23

20 Jan 2023 , 12:53 PM

AU Small Finance Bank reported a 30% yoy increase in net profit to Rs393 crore in the December quarter from Rs302 crore the previous year, owing to an increase in income and a decrease in provisioning requirements.

Its net interest margin remained nearly flat for the quarter, at 6.2%, compared to 6.3% the previous year. Net interest income increased 41% yoy to Rs1,153 crore from Rs820 crore.

The bank’s total income increased 36% yoy to Rs2,413 crore from Rs1,773 crore. Provisions decreased 41% yoy to Rs33 crore from Rs56 crore.

Its asset quality improved, with the gross non-performing assets ratio dropping to 1.81% at the end of December from Rs 2.6% the previous year. Net NPA was 0.51% versus 1.29%.

According to the bank, the provisioning coverage ratio improved to 72% as a result of additional provisioning in the form of a contingency provision of Rs98 crore and a restructured provision of Rs127 crore.

At around 12.57 PM, AU Small Finance Bank was trading at Rs620.10, down by 0.19% against the previous close of Rs621.25 on NSE. The counter touched an intraday high and low of Rs629.15 and Rs613.90 respectively.

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