Ujjivan Small Finance Bank Q2 Profit Down 29% to Rs 233 Cr

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.