Still reeling from note ban, Ujjivan Fin Services' Q3 net falls 34%

However, asset quality improves as gross NPAs drop to 4.24%

Bangalore-based Ujjivan Financial Services saw a consolidated net profit of Rs 293 million for the quarter ended December 2017. This is a sharp fall of nearly 34% as against Rs 439 million in year-ago period.

Gross loan book grew by 7.71% to Rs 70.95 billion, while disbursements grew by 28.35% to Rs 21.34 billion as compared to December 2016.

The asset quality improved over the last September quarter with gross non-performing assets (GNPA) dropping to 4.24% as against 4.99% in September 2017. However, this is a steep rise against GNPA of 0.25% in December 2016.

“Loan book was impacted by