Ujjivan Small Finance Bank Q2 Profit Down 29% to Rs 233 Cr
By Rediff Money Desk, New Delhi Oct 24, 2024 16:13
Ujjivan Small Finance Bank's net profit declined 29% to Rs 233 crore in Q2 FY25, while total income rose. Gross NPAs increased but net NPAs fell.
New Delhi, Oct 24 (PTI) Ujjivan Small Finance Bank on Thursday reported a 29 per cent decline in net profit to Rs 233 crore for the quarter ended September 2024.
The lender earned a net profit of Rs 328 crore in the year-ago period.
However, total income rose to Rs 1,820 crore in the quarter under review from Rs 1,580 crore in the same period a year ago, Ujjivan Small Finance Bank said in a regulatory filing.
Net interest income of the bank improved to Rs 1,613 crore in the July-September quarter from Rs 1,391 crore in the September 2023 quarter.
The bank's asset quality deteriorated with gross non-performing assets (NPAs) rising to 2.52 per cent of gross advances at the end of the September 2024 quarter over 2.35 per cent a year ago.
However, net NPAs or bad loans declined to 0.56 per cent against 0.89 per cent in the year-ago period.
The Capital Adequacy Ratio of the bank decreased to 23.38 per cent from 25.19 per cent at the end of September 2023.
The lender earned a net profit of Rs 328 crore in the year-ago period.
However, total income rose to Rs 1,820 crore in the quarter under review from Rs 1,580 crore in the same period a year ago, Ujjivan Small Finance Bank said in a regulatory filing.
Net interest income of the bank improved to Rs 1,613 crore in the July-September quarter from Rs 1,391 crore in the September 2023 quarter.
The bank's asset quality deteriorated with gross non-performing assets (NPAs) rising to 2.52 per cent of gross advances at the end of the September 2024 quarter over 2.35 per cent a year ago.
However, net NPAs or bad loans declined to 0.56 per cent against 0.89 per cent in the year-ago period.
The Capital Adequacy Ratio of the bank decreased to 23.38 per cent from 25.19 per cent at the end of September 2023.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- G G Engineering
- 2.13 (+ 12.11)
- 70001344
- Vodafone Idea L
- 7.67 ( -5.66)
- 68482952
- Srestha Finvest
- 0.66 ( -4.35)
- 32525731
- GTL Infrastructure
- 1.98 ( -4.81)
- 26692659
- AvanceTechnologies
- 0.82 (+ 2.50)
- 23608944
MORE NEWS
RBI Governor Shaktikanta Das Wins Top Central...
RBI Governor Shaktikanta Das has been recognized as the top central banker globally by...
Sebi Issues Notice to Axis Bank on Max Life...
Sebi has issued a show cause notice to Axis Bank and its subsidiaries regarding their...
Bicycle Reflector Import Exemption: Research &...
India exempts import of 200 bicycle reflectors from quality norms for research and...