Shares of Ujjivan Small Finance Bank on Tuesday jumped nearly 10 per cent after the company reported its highest-ever quarterly profit in the June quarter at Rs 203 crore.
The stock climbed 9.77 per cent to Rs 19.10 — its highest trading permissible limit for the day — on the BSE.
On the NSE, it rallied 9.77 per cent to Rs 19.10 apiece.
Ujjivan Small Finance Bank reported its highest-ever quarterly profit in June 2022 quarter at Rs 203 crore on higher interest income, fall in bad loans as well as strong loan disbursement.
The Bengaluru-based Small Finance Bank (SFB) had posted a net loss of Rs 233 crore in the same quarter a year ago. Compared sequentially, the net profit was up by 60.4 per cent from Rs 126.52 crore in quarter ended March 2022.
This is the highest-ever quarterly net profit, the bank said, adding there is continued traction on collections side at about 99 per cent.
Bank’s total income during April-June period of 2022-23 rose by 40 per cent to Rs 1,000.42 crore, as against Rs 714.67 crore in same quarter of 2021-22, Ujjivan SFB said in a regulatory filing.
The interest earned by the lender jumped by 41.1 per cent to Rs 905.37 crore in the first quarter of FY23 as against Rs 641.66 crore in the year-ago period. While other income grew to Rs 95.1 crore as against Rs 73 crore. PTI SUM SHW SHW
