New Delhi, May 4 (PTI) Equitas Small Finance Bank (ESAF) on Wednesday reported almost flat growth in its net profit at Rs 120 crore for the quarter ended March 2022.
It had posted a net profit of Rs 113 crore in the same quarter a year ago.
Total income in Q4 FY22 rose to Rs 1,044 crore as against Rs 997 crore in the same quarter of FY21, Equitas SFB said in a regulatory filing.
Net interest income stood at Rs 552 crore, up from Rs 449 crore in Q4 FY21. Net interest margin (NIM) stood at 9.12 per cent.
For full year 2021-22, the net profit was down at Rs 281 crore from Rs 384 crore in 2020-21. However, total income during the year rose to Rs 3,997.23 crore from Rs 3,612.47 crore.
On the asset quality front, the company’s gross non-performing assets (NPA) stood at 4.06 per cent at end of March 2022, as against 3.59 per cent a year ago. However, it improved sequentially from 4.39 per cent at end of December 2021.
Net NPAs or bad loans were also up at 2.37 per cent against 1.52 per cent.
FY22 disbursement at Rs 10,549 crore was the highest-ever, with growth of 41 per cent, it said.
In Q4 FY22, disbursement at Rs 3,279 crore exceeded the previous highest quarterly level.
“The bank achieved its highest ever disbursement in Q4FY22. The demand for credit has come back to normal levels. With improving asset quality, the bank is well positioned to get back to its pre-Covid levels growth rate of around 30 per cent per annum,” said P N Vasudevan, Managing Director and CEO of Equitas Small Finance Bank.
He said the bank’s capital position is also strong with capital adequacy of over 25 per cent, enabling it to pursue growth over the coming years.
Stock of Equitas SFB closed at Rs 52.05 apiece on BSE, down by 2.71 per cent. PTI KPM KPM ABM ABM
