Ujjivan Small Finance Bank Ltd Q1FY21 PAT lower at Rs. 54.65 crore

Ujjivan Financial Services Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.774.98 crores during the period ended June 30, 2020 as compared to Rs.809.65 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.54.65 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.73.15 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.0.32 for the period ended June 30, 2020 as compared to Rs.0.42 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 774.98 crs	₹ 809.65 crs	-4.28%
Net Profit	₹ 54.65 crs	₹ 73.15 crs	-25.29%
EPS	₹ 0.32	₹ 0.42	-23.81%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.774.98 crores during the period ended June 30, 2020 as compared to Rs.705.50 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.54.65 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.94.48 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.0.32 for the period ended June 30, 2020 as compared to Rs.0.66 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 774.98 crs	₹ 705.50 crs	9.85%
Net Profit	₹ 54.65 crs	₹ 94.48 crs	-42.16%
EPS	₹ 0.32	₹ 0.66	-51.52%

Mr. Nitin Chugh, MD & CEO, Ujjivan Small Finance Bank said, "Despite paucity of economic activities and plenty of challenges posed by the growing pandemic of Covid-19, we remained profitable in the first quarter of FY21. Disbursements were muted due to which profitability was impacted and advances growth was moderate. Nevertheless we grew our gross advances book to ₹14,366 crore up 22% Y-o-Y. Concerted efforts towards business normalcy remained in full force for Q1FY21, reflecting in our improved collection efficiency of 54% for Jun'20 which further rose to 59% in Jul'20 (upto 30th July). Collection efficiency for Jun'20/ Jul'20 stands at 59%/64% if we include additional collections. We are confident and committed to improve it further in the coming days. Deposits grew 39% Y-o-Y to ₹11,057 crore of which 45% are retail deposits. Our recently launched digital deposit products are witnessing healthy pickup - acquiring over 17,000 retail customers digitally in Q1FY21. In the quarter gone by we have also commenced active trading, adding a significant revenue stream which will continue to boost profitability in the coming quarters. Safety of our employees and customers topped our priority list, several employees continued to work from home and were provided with necessary technological support. We continued to operate at optimum levels in these unprecedented times providing extended support to our customers. Our strive to become Mass Market Retail Bank with focus to provide differentiated and digital service experience remains intact and we continue this financial inclusion journey covering the under-served and unserved masses of the society."

Shares of Ujjivan Financial Services Ltd was last trading in BSE at Rs.236.4 as compared to the previous close of Rs. 232.65. The total number of shares traded during the day was 211198 in over 2917 trades.

The stock hit an intraday high of Rs. 238.7 and intraday low of 228.05. The net turnover during the day was Rs. 49434973.

Source : Equity Bulls

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