Ujjivan Small Finance Financial institution Q1 outcomes: Web revenue jumps 60% to ₹324.1 crore; NII grows 32% YoY; share value rises 3%

Ujjivan Small Finance Bank reported a 59.7% rise in its internet revenue for the quarter ended June 2023 to 324.07 crore as in comparison with 202.94 crore in the identical quarter final 12 months.

The financial institution’s internet curiosity earnings (NII), which is the distinction between curiosity earned and curiosity expended, throughout Q1FY24 elevated 32.1% to 792.4 crore from 599.7 crore, YoY. 

Web curiosity margin (NIM) for the quarter declined 40 bps to 9.2% from 9.6%, YoY.

Pre-Provision Working Revenue (PPOP) jumped 52% to 457.89 crore from 300.56 crore, YoY.

“Through the quarter, we consciously decreased the surplus liquidity which was driving adverse carry and pulling our NIMs down. Our credit score price for the quarter was minimal on the again of sturdy collections. Whereas slippages proceed to be below management, NPA recoveries have began to maneuver in the direction of normalization,” mentioned Ittira Davis, MD & CEO, Ujjivan Small Finance Financial institution.

Additionally Learn: Bajaj Finserv Q1 Results: Net profit jumps 48% to 1,943 crore; revenue rises 47% YoY

On the asset high quality entrance, gross non-performing belongings (NPA) as a proportion of gross advances fell to 2.62% from 2.88% within the earlier quarter.

Web NPA as a proportion of internet advances in Q1FY24 rose marginally to 0.06% from 0.04%, QoQ.

On an absolute foundation, gross NPA within the June quarter decreased to 596.55 crore from 630.61 crore within the earlier quarter, whereas internet NPA elevated to 12.62 crore from 9.04 crore, QoQ.

“Unhealthy debt recoveries proceed to be sturdy; we anticipate the identical to be substantial this fiscal as properly albeit decrease than FY23. We stay assured of our sub-100 bps credit score price for FY24,” Davis mentioned.

Ujjivan Small Finance Financial institution’s disbursements throughout Q1FY24 have been at 5,284 crore, up 22% YoY. Gross mortgage e-book at 25,326 crore was up 30% on-year.

Within the quarter ended June 2023, the financial institution’s deposits grew by 45% on-year to 26,660 crore. CASA grew 27% YoY taking CASA ratio to 24.6% as of June 2023.

Capital adequacy ratio was at 26.7% with Tier-1 capital at 23.7%.

Ujjivan Small Finance Financial institution share value rallied over 3% after the announcement of Q1 outcomes.

At 2:10 pm, Ujjivan Small Finance Financial institution shares have been buying and selling 2.70% increased at 43.81 apiece on the BSE. 

Read all Q1 Results here

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Up to date: 27 Jul 2023, 02:11 PM IST

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