Ujjivan SFB Q4 Results: Net profit rises 6.5% to ₹329 crore, NII up 26% YoY; dividend declared
- Ujjivan SFB Q4 Results: The private lender's NII – the difference between interest earned and interest expended --increased 26.4 per cent to ₹933 crore, compared to ₹738 crore in the year-ago period.
Ujjivan Small Finance Bank Q4 Results: Ujjivan Small Finance Bank (SFB) announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Saturday, May 18, reporting a rise of 6.5 per cent to ₹329.6 crore, compared to ₹309.5 crore in the corresponding period last year.
The private lender's net interest income (NII) – the difference between interest earned and interest expended --increased 26.4 per cent to ₹933 crore, compared to ₹738 crore in the year-ago period.
Ujjivan SFB Q4 Results - Key Metrics
The bank said that it recorded its highest-ever net profit at ₹1,281 crore for FY24. On the asset quality, Ujjivan SFB's gross non performing asset (NPA) in the March quarter came in at 2.23 per cent compared to 2.18 per cent in the preceding December quarter. The net NPA was 0.28 per cent compared to 0.17 per cent on a sequential basis.
“Q4FY24 ended marking a strong close to another successful financial year, during which we were able to achieve quality growth. We have successfully completed the amalgamation process between bank and its holding company. Our secured book improved by 177 bps to 30.2 per cent this quarter,'' said Ittira Davis, MD & CEO, Ujjivan Small Finance Bank.
‘’Disbursement during the quarter and year stood at ₹6,681 crore and ₹23,389 crore respectively. Affordable Housing (including Micro-Mortgages) has done well during the year disbursed ₹730 crore and ₹2,284 crore for the quarter and year respectively leading to housing book growth of 45 per cent for FY24. We expect this momentum to continue in the next year as well,'' added Davis.
The bank's capital adequacy ratio stood at 24.7 per cent with tier-1 capital at 22.6 per cent. The excess system liquidity further moderated during the quarter. The bank's provisional daily average LCR for March 2024 was 134 per cent. The gross loan book at ₹29,780 crore, registering a growth of 24 per cent year-on-year (YoY).
The bank's board recommended a final dividend of ₹1.50 per equity share, subject to the approval of shareholders. Ahead of the announcement of Q4FY24 results, shares of Ujjivan SFB settled 1.33 per cent higher at ₹53.41 apiece on the BSE.
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Business NewsCompaniesCompany ResultsUjjivan SFB Q4 Results: Net profit rises 6.5% to ₹329 crore, NII up 26% YoY; dividend declared
First Published:18 May 2024, 04:11 PM IST
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