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Equitas Small Finance Bank Ltd Q1FY22 PAT declines to Rs. 11.92 crore
Posted On : 2021-07-30 22:19:28( TIMEZONE : IST )
Equitas Small Finance Bank Ltd has reported financial results for the period ended June 30, 2021.
Financial Results (Q1 FY2021-22) - QoQ Comparison
The company has reported total income of Rs.922.59 crores during the period ended June 30, 2021 as compared to Rs.996.72 crores during the period ended March 31, 2021.
The company has posted net profit / (loss) of Rs.11.92 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.112.86 crores for the period ended March 31, 2021.
The company has reported EPS of Rs.0.10 for the period ended June 30, 2021 as compared to Rs.0.98 for the period ended March 31, 2021.
| Financials | Q1 FY2021-22 | Q4 FY2020-21 | % Change |
| Total Income | ₹ 922.59 crs | ₹ 996.72 crs |  -7.44% |
| Net Profit | ₹ 11.92 crs | ₹ 112.86 crs | -89.44% |
| EPS | ₹ 0.10 | ₹ 0.98 | -89.8% |
Financial Results (Q1 FY2021-22) - YoY Comparison
The company has reported total income of Rs.922.59 crores during the period ended June 30, 2021 as compared to Rs.750.96 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.11.92 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.57.67 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.0.10 for the period ended June 30, 2021 as compared to Rs.0.55 for the period ended June 30, 2020.
| Financials | Q1 FY2021-22 | Q1 FY2020-21 | % Change |
| Total Income | ₹ 922.59 crs | ₹ 750.96 crs |  22.85% |
| Net Profit | ₹ 11.92 crs | ₹ 57.67 crs | -79.33% |
| EPS | ₹ 0.10 | ₹ 0.55 | -81.82% |
Commenting on the quarterly performance, Mr. P N Vasudevan, Managing Director and CEO of Equitas Small Finance Bank said: The Bank primarily caters to small retailers and transporters engaged in daily use products.
During the quarter due to lockdowns and other covid related restrictions, cash flows of these small retailers had been significantly impacted. The impact was felt across geographies and in rural locations too. With the absence of a moratorium during the second wave of covid, the bank offered to restructure loans of impacted customers in order to help them manage their cash flows better.
However, in July, we are seeing a strong uptick in collections and disbursements as the country gets back to near normalcy. We are confident that our customers would be able to regain their cash flows, remain resilient and continue to grow their small businesses as the pandemic wears off. However, we remain cautions of a plausible third wave.
Our liability franchise continues to deliver extremely well and investments in digital technologies, branches and people are yielding the desired results.
At Equitas, we continue to play a strong supportive role in conjunction with various State Governments by organizing a total of 3,799 vaccination camps for low-income communities, benefitting 4,45,566 people.
