Equitas Small Finance Bank Ltd Q3 FY2023 net profit increases to Rs. 170.12 crores

Equitas Small Finance Bank Limited has reported Standalone financial results for the period ended December 31, 2022.

Financial Results (Q3 FY2023) - QoQ Comparison

The company has reported total income of Rs. 1216.0319 crores during the period ended December 31, 2022 as compared to Rs. 1147.3941 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs. 170.1263 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs. 116.4213 crores for the period ended September 30, 2022.

The company has reported EPS of Rs. 1.34 for the period ended December 31, 2022 as compared to Rs. 0.92 for the period ended September 30, 2022.

Financials	Q3 FY2023	Q2 FY2023	% Change
Total Income	₹1216.0319 crs	₹1147.3941 crs	5.98%
Net Profit	₹170.1263 crs	₹116.4213 crs	46.13%
EPS	₹1.34	₹0.92	45.65%

Financial Results (Q3 FY2023) - YoY Comparison

The company has reported total income of Rs.1216.0319 crores during the period ended December 31, 2022 as compared to Rs.1035.0092 crores during the period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.170.1263 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs.108.1050 crores for the period ended December 31, 2021.

The company has reported EPS of Rs.1.34 for the period ended December 31, 2022 as compared to Rs.0.93 for the period ended December 31, 2021.

Financials	Q3 FY2023	Q3 FY2022	% Change
Total Income	₹1216.0319 crs	₹1035.0092 crs	17.49%
Net Profit	₹170.1263 crs	₹108.1050 crs	57.37%
EPS	₹1.34	₹0.93	44.09%

Financial Results (9 Months Ended FY2023) - YoY Comparison

The company has reported total income of Rs.3437.0450 crores during the 9 Months period ended December 31, 2022 as compared to Rs.2953.2507 crores during the 9 Months period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.383.5528 crores for the 9 Months period ended December 31, 2022 as against net profit / (loss) of Rs.161.2229 crores for the 9 Months period ended December 31, 2021.

The company has reported EPS of Rs.3.04 for the 9 Months period ended December 31, 2022 as compared to Rs.1.39 for the 9 Months period ended December 31, 2021.

Financials	9 Months Ended FY2023	9 Months Ended FY2022	% Change
Total Income	₹3437.0450 crs	₹2953.2507 crs	16.38%
Net Profit	₹383.5528 crs	₹161.2229 crs	137.90%
EPS	₹3.04	₹1.39	118.71%

Asset Quality:

Asset Quality	Q3 FY2023	Q2 FY2023	Q3 FY2022
Gross NPA	₹861.3614 crs	₹870.2623 crs	₹863.8178 crs
Gross NPA %	3.63%	3.91%	4.61%
Net NPA	₹423.4394 crs	₹430.8818 crs	₹459.4246 crs
Net NPA %	1.82%	1.97%	2.51%

Gross NPA was at ₹ 861.3614 crs in Q3 FY2023 against ₹ 863.8178 crs in Q3 FY2022. The same was at ₹ 870.2623 crs in Q2 FY2023.

Net NPA was at ₹ 423.4394 crs in Q3 FY2023 against ₹ 459.4246 crs in Q3 FY2022. The same was at ₹ 430.8818 crs in Q2 FY2023.

GNPA was at 3.63% of Gross advances as on December 31, 2022 as compared to 4.61% as on December 31, 2021 and 3.91% as of September 30, 2022.

Net NPA was at 1.82% of Gross advances as on December 31, 2022 as compared to 2.51% as on December 31, 2021 and 1.97% as of September 30, 2022.

Ratios	Q3 FY2023	Q2 FY2023	Q3 FY2022
RoA %	0.53%	0.38%	0.41%
CAR (BASEL III) %	24.28%	23.08%	21.91%

Return on Average Assets (RoA) is at 0.53% for Q3 FY2023 against 0.38% in Q2 FY2023 and 0.41% in Q3 FY2022.

In Q3 FY2023, Bank's total Capital Adequacy Ratio (CAR) was at 24.28%, as compared to 23.08% in Q2 FY2023 and 21.91% in Q3 FY2022.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 55.80 as compared to the previous close of Rs. 54.10. The total number of shares traded during the day was 511437 in over 3095 trades.

The stock hit an intraday high of Rs. 56.10 and intraday low of 53.55. The net turnover during the day was Rs. 28153849.00.

Source : Equity Bulls

Keywords

EquitasSmallFinanceBank Q3FY23 9MFY23 ResultUpdate