Ujjivan Small Finance Bank's net profit rose 6.5% to Rs 329.63 crore on a 29.38% jump in total income to Rs 1,764.64 crore in Q4 FY24 as compared with Q4 FY23.
Profit before tax stood at Rs 439.56 crore in March 2024 quarter, up 6.56% from 412.50 crore recorded in same quarter last year.Net interest income (NII) jumped by 27% YoY to Rs 934 crore and net interest margin (NIM) stood at 9.4% for the quarter.
Pre-Provision operating profit was at Rs 519 crore in the fourth quarter of FY24; registering a growth of 26% on YoY basis.
The bank's disbursements were at Rs 6,681 crore, up 11% YoY and gross loan book was Rs 29,780 crore for Q4 of FY24.
On asset quality front, Gross non-performing assets (NPAs) stood at Rs 612.52 crore as on 31 March 2024 as compared with Rs 630.61 crore as on 31 March 2023.
Gross NPA ratio as on 31 March 2024 was 2.23% as against 2.88% as on 31 March 2023. Net NPA ratio of the bank was at 0.28% as on 31 March 2024 as against 0.04% as on 31 March 2023.
As on 31 March 2024, deposits of the bank amounted to Rs 31,462 crore, up 23% YoY, CASA deposits were Rs 8,335 crore up 24%. CASA ratio as on 31 March 2024 was at 26.5% as against 25.5% as of 31 March 2023.
As on 31 March 2024, capital adequacy ratio at 24.7% with Tier-1 capital at 22.6% and the provisional daily average liquidity coverage ratio stood at 134%.
Ittira Davis, MD & CEO, Ujjivan Small Finance Bank, said, Q4FY24 ended marking a strong close to another successful financial year, during which we were able to achieve quality growth. We have successfully completed the amalgamation process between bank and its holding company.
Additionally, we are in the final stages of introducing a revamped LOS for the vertical, once completely operational it is expected to further improve business efficiency. Strength of our underlying business continues to reflect in our strong financial performance over last 2 consecutive financial years. We generated a RoA /RoE of 3.5% /26.1% respectively for FY24.
Meanwhile, the board has recommended a final dividend of Rs 1.5 per equity share for the financial year 2023-24, subject to shareholders approval.
Ujjivan Small Finance Bank is a small finance bank. The bank serves nearly 86 lakh customers through 752 branches and 22,566 employees spread across 326 districts and 26 states and union territories in India.
The scrip ended 1.33% higher at Rs 53.41 on Saturday, 18 May 2024.
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