{"id":102728,"date":"2023-05-12T10:43:00","date_gmt":"2023-05-12T05:13:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102728"},"modified":"2023-05-12T10:41:40","modified_gmt":"2023-05-12T05:11:40","slug":"ujjivan-sfb-q4-results-net-profit-up-144-yoy","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/ujjivan-sfb-q4-results-net-profit-up-144-yoy\/","title":{"rendered":"Ujjivan SFB Q4 Results: Net profit up 144% YoY"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3022404466\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Ujjivan Small Finance Bank on Thursday reported a more than two-fold jump in its March quarter net profit to Rs 309.50 crore, helped by higher core income and a write-back in provisions.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-892256422\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The Bengaluru-headquartered lender posted a net profit of Rs 1,099 crore for FY23 as against a loss of Rs 414 crore in the year-ago period.<\/p><p>For the reporting quarter, its core net interest income grew 36 per cent to Rs 738 crore on a 33 per cent increase in the loan book, and limited by a 0.85 per cent narrowing in the net interest margin.<\/p><p>The other income increased to Rs 179 crore from Rs 149 crore in the year-ago period. Its managing director and chief executive Ittira Davis said the lender is targeting to decrease the proportion of micro loans from the present 71 per cent, and the 5-6 percentage point dip will lead to further crimping in the net interest margins to 9 per cent in FY24.<\/p><div class=\"trade-content_5\" id=\"trade-667016918\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>On the asset quality front, it showed an improvement with the gross non-performing assets ratio coming down to 2.88 per cent from 3.64 per cent three months ago.<\/p><p>Davis said the collection efficiencies have also improved across the 25 states that it operates in, and there are no pockets of concern on this front.<\/p><p>It is also targeting to increase the share of the low-cost current and saving account deposits to over 30 per cent from the present 26 per cent, he said.<\/p><p>The bank will open 100 more branches will be nearly double of the 52 opened in FY23, and will be entering Andhra Pradesh as well, he said.<\/p><p>It expects a go-ahead on its proposed reverse merger by the end of the year, Davis said, adding that it will be seeking a universal bank license after that as it will also be completing five years of operations by then.<\/p><p>In FY24, it will pay more focus on the newly launched vehicle loans and gold loans segment, Davis said, adding that the bank will also relaunch the small business lending segment.<\/p><div class=\"trade-content-10\" id=\"trade-1755764881\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The Ujjivan scrip closed 0.86 per cent up at Rs 29.25 a piece on the BSE on Thursday, as against a 0.06 per cent correction on the benchmark.<\/p><div class=\"trade-after-content\" id=\"trade-732715747\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Ujjivan Small Finance Bank on Thursday reported a more than two-fold jump in its March quarter net profit to Rs 309.50 crore, helped by higher core income and a write-back in provisions. The Bengaluru-headquartered lender posted a net profit of Rs 1,099 crore for FY23 as against a loss of Rs 414 crore in the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":71856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-102728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ujjivan SFB Q4 Results: Net profit up 144% YoY - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Ujjivan Small Finance Bank on Thursday reported a more than two-fold jump in its March quarter net profit to Rs 309.50 crore, helped by higher core income and a write-back in provisions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=102728\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ujjivan SFB Q4 Results: Net profit up 144% YoY\" \/>\n<meta property=\"og:description\" content=\"Ujjivan Small Finance Bank on Thursday reported a more than two-fold jump in its March quarter net profit to Rs 309.50 crore, helped by higher core income and a write-back in provisions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/?p=102728\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T05:13:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/11\/ujjivan-SFB-Cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/11\/ujjivan-SFB-Cover-image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=102728\",\"url\":\"https:\/\/tradebrains.in\/features\/?p=102728\",\"name\":\"Ujjivan SFB Q4 Results: Net profit up 144% YoY - 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