Equitas Small Finance Bank Q4 results: Net profit jumps 162% to Rs 113 cr


MUMBAI: Equitas Small Finance Bank on Thursday reported a 162 per cent soar in its profit after tax to Rs 113 crore within the quarter ended March 31, 2021.

The small finance lender had posted a profit after tax of Rs 43 crore within the year-ago quarter.

Its Managing Director and CEO P N Vasudevan stated that within the March quarter of 2019-20, the profit was low because the lender had put aside Rs 75 crore as coronavirus-related provisions, which was not the case within the fourth quarter of 2020-21.

Net interest income for the quarter was Rs 449 crore as in opposition to Rs 424 crore within the year-ago interval. Net curiosity margins stood at 7.57 per cent.

Gross non-performing property (NPAs) at 3.59 per cent as in contrast to 2.72 per cent. Net NPAs stood 1.52 per cent as in opposition to 1.67 per cent.

Vasudevan stated the rise in GNPA is due to the affect of COVID-19.

He stated that with a provision protection ratio at 58.59 per cent, the financial institution is properly supplied for any potential stress.

During the quarter, the financial institution wrote off Rs 171 crore within the microfinance portfolio.

The mortgage loss and provision for FY21 was Rs 375 crore as in opposition to Rs 247 crore in 2019-20.

As of March 31, 2021, the full capital-to-risk weighted property ratio (CRAR) stood at 24.18 per cent, with tier-I CRAR of 23.23 per cent and tier-II CRAR at 0.95 per cent.

Advances as of the March 2021 quarter stood at Rs 17,925 crore. It disbursed Rs 2,535 crore within the quarter.

The financial institution’s assortment and billing effectivity for March 2021 was at 108.51 per cent and 91.12 per cent, respectively.

The financial institution’s shares on Thursday closed at Rs 54.75 apiece, up 0.92 per cent on the BSE.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *