The shares of this banking and financial services provider gained up to 5 percent after the company’s net profit and revenue increased by 23 percent and 25 percent respectively in the third quarter.
With a market capitalization of Rs 6,425.14 crore, the shares of Utkarsh Small Finance Bank Ltd were trading at Rs 58.50 per share, increasing around 0.74 percent as compared to the previous closing price of Rs 58.07 apiece.
Looking into the company’s Performance, Utkarsh Small Finance Bank Ltd’s revenue increased by 6 percent on a quarter-on-quarter basis from Rs. 756 crores in Q2FY24 to Rs. 806 crores in Q3 FY24. Further, revenue increased by 25 percent year on year from Rs. 641 crores in Q3FY23 to Rs.806 crores in Q3FY24.
Utkarsh Small Finance Bank Ltd’s net profit increased by 2 percent on a quarter-on-quarte basis from Rs.114 crore in Q2FY24 to Rs. 116 crore in Q3FY24. Further, net profit increased by 23 percent yearly from Rs. 94 crore in Q3FY23 to Rs.116 crore in Q3FY24.
The firm lends largely to the small fleet operator market, now supplying CE and CV goods through 40 branches, with substantial opportunity for expansion within existing branches. USFB serves 2,500 consumers in its key locations, with an average loan amount of ₹30-35 lakh.
Utkarsh Small Finance Bank Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 22.6 percent and a return on capital employed (ROCE) of 9.37 percent.
Utkarsh Small Finance Bank Ltd’s recent shareholding pattern, The Promoters of the company own 69.16 percent while Retail shareholders own an 18.80 percent stake in the company and Foreign Institutional Investors own a 0.74 percent stake.
Utkarsh Small Finance Bank Limited (the Bank) is an Indian small finance bank. The bank provides banking and financial services. The Bank’s product offering comprises asset products that it advances to clients, especially in unbanked and underbanked areas, as well as liability products in the form of deposits obtained from consumers throughout regions.
Written by:- Abhishek Singh
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