{"id":42078,"date":"2022-11-07T17:45:00","date_gmt":"2022-11-07T12:15:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=42078"},"modified":"2022-11-07T17:39:43","modified_gmt":"2022-11-07T12:09:43","slug":"biz-results-ujjivan-sfb-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-results-ujjivan-sfb-2\/","title":{"rendered":"Ujjivan SFB posts highest-ever quarterly profit at Rs 294 cr in Sept qtr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2702431062\"><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 (SFB) on Monday reported its highest-ever quarterly profit at Rs 294 crore in the September quarter, led by a strong disbursal growth and fall in bad loans.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3975201079\"><!-- 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>\n<p>The bank had posted a net loss of Rs 274 crore in the year-ago period. However, compared sequentially, the net profit was up by nearly 45 per cent from Rs 203 crore in the quarter ended June 2022.<\/p>\n<p>In the July-September period of 2022-23, total income jumped by 63 per cent to Rs 1,139.83 crore as against Rs 699.74 crore last year, SFB said in a regulatory filing.<\/p>\n<p>Interest income grew by 54 per cent to Rs 993 crore from Rs 645 crore. Net interest margin stood at 9.8 per cent for the quarter against 8.1 per cent in the second quarter of FY22.<\/p><div class=\"trade-content_5\" id=\"trade-1198982396\"><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>\n<p>The lender said it registered strong disbursements at Rs 4,866 crore during the quarter, up by 56 per cent from the preceding year.<\/p>\n<p>Bank&#8217;s gross advances at the end of the quarter under review grew by 44 per cent to Rs 20,938 crore as compared to the last year.<\/p>\n<p>The Bengaluru-based SFB also showed a significant improvement in its asset quality as the gross Non-Performing Assets (NPAs\/bad loans) were trimmed by half to 5.06 per cent of the gross advances at the end of September 2022 over 11.80 per cent by the end of September 2021.<\/p>\n<p>In value terms, the gross NPA fell to Rs 929 crore from Rs 1,713 crore.<\/p>\n<p>Likewise, the net NPAs came down to 0.04 per cent (Rs 7.32 crore) as compared to 3.29 per cent (Rs 435.14 crore).<\/p>\n<p>It wrote-off bad loans worth Rs 157 crore in the second quarter of FY23. There is a substantial reduction in restructured book, constituting 2.3 per cent of the gross advances with provision coverage ratio of 63 per cent, the lender said.<\/p><div class=\"trade-content-10\" id=\"trade-3031182466\"><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>\n<p>There was a reversal of Rs 9.94 crore towards provisions for bad loans and contingencies for Q2FY23. It had set aside Rs 444.69 crore to cover for provisions and contingencies for the same quarter last year.<\/p>\n<p>There is a continued traction on collections side at nearly 100 per cent in the September quarter, it said. Portfolio at risk continues to decline with 6.1 per cent at the end of July-September quarter of FY23 from 7.9 per cent by the end of June 2022.<\/p>\n<p>Bank&#8217;s deposits moved up by 45 per cent at Rs 20,396 crore by September 2022. Retail deposits are at 61 per cent of total deposits against 52 per cent by the end of September 2021.<\/p>\n<p>&#8220;Q2FY23 is another milestone quarter with record profitability. While disbursements continue to sustain the Rs 4,000 crore plus mark, deposit growth took-off well this quarter driven by retail deposits,&#8221; Ittira Davis, MD &amp; CEO, Ujjivan Small Finance Bank, said.<\/p>\n<p>He said the bank remains focused on building granular deposit franchise and continuously enhance digital capabilities to drive improved business and productivity levels.<\/p>\n<p>&#8220;With recent capital raise and sustained high profitability, September 2022 CRAR (Capital to Risk weighted Assets Ratio) is far more than comfortable to capitalise on opportunities ahead,&#8221; Davis said.<\/p>\n<p>During the half year ended on September 30, 2022, Ujjivan SFB raised Rs 475 crore equity through Qualified Institutional Placement (QIP).<\/p>\n<p>Shares of the bank closed 5.05 per cent higher at Rs 28.10 apiece on the BSE. PTI KPM SHW<\/p>\n<div class=\"trade-after-content\" id=\"trade-285440518\"><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 (SFB) on Monday reported its highest-ever quarterly profit at Rs 294 crore in the September quarter, led by a strong disbursal growth and fall in bad loans. The bank had posted a net loss of Rs 274 crore in the year-ago period. However, compared sequentially, the net profit was up by [&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-42078","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 posts highest-ever quarterly profit at Rs 294 cr in Sept qtr - Trade Brains Features<\/title>\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\/biz-results-ujjivan-sfb-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ujjivan SFB posts highest-ever quarterly profit at Rs 294 cr in Sept qtr\" \/>\n<meta property=\"og:description\" content=\"Ujjivan Small Finance Bank (SFB) on Monday reported its highest-ever quarterly profit at Rs 294 crore in the September quarter, led by a strong disbursal growth and fall in bad loans. 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