Ujjivan Small Finance Bank Q2 results: Net profit rises 11% to Rs 328 cr

Ujjivan Small Finance Bank on Friday reported 11 per cent rise in net profit at Rs 328 crore for the second quarter ended September 30 on the back of fall in bad loans.

The Bengaluru-based bank had posted a net profit of Rs 294 crore for the year-ago period.

Total income in the September quarter increased to Rs 1,580 crore from Rs 1,140 crore a year ago, Ujjivan Small Finance Bank said in a regulatory filing.

Interest income grew to Rs 1,391 crore from Rs 993 crore in the corresponding quarter a year ago.

The bank's asset quality improved with gross non-performing assets (NPAs) declining to 2.35 per cent of gross advances as of September 30, 2023, against 5.06 per cent at the end of September 2022.

However, net NPAs increased marginally to 0.09 per cent from 0.04 per cent.

Capital Adequacy Ratio of the bank declined to 25.19 per cent from 26.70 per cent at the end of the same quarter last fiscal.