Equitas Small Finance Bank Ltd posts Rs. 191.20 crores net profit in Q1FY24

Equitas Small Finance Bank Limited has reported Standalone financial results for the period ended June 30, 2023.

Financial Results (Q1 FY2024) - QoQ Comparison

The company has reported total income of Rs. 1425.3267 crores during the period ended June 30, 2023 as compared to Rs. 1394.4188 crores during the period ended March 31, 2023.

The company has posted net profit / (loss) of Rs. 191.2005 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs. 190.0377 crores for the period ended March 31, 2023.

The company has reported EPS of Rs. 1.69 for the period ended June 30, 2023 as compared to Rs. 1.69 for the period ended March 31, 2023.

Financials	Q1 FY2024	Q4 FY2023	% Change
Total Income	₹ 1425.3267 crs	₹1394.4188 crs	2.22%
Net Profit	₹191.2005 crs	₹190.0377 crs	0.61%
EPS	₹1.69	₹1.69	0.00%

Financial Results (Q1 FY2024) - YoY Comparison

The company has reported total income of Rs. 1425.3267 crores during the period ended June 30, 2023 as compared to Rs.1073.6190 crores during the period ended June 30, 2022.

The company has posted net profit / (loss) of Rs.191.2005 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs.97.0052 crores for the period ended June 30, 2022.

The company has reported EPS of Rs.1.69 for the period ended June 30, 2023 as compared to Rs.0.77 for the period ended June 30, 2022.

Financials	Q1 FY2024	Q1 FY2023	% Change
Total Income	₹ 1425.3267 crs	₹1073.6190 crs	32.76%
Net Profit	₹191.2005 crs	₹97.0052 crs	97.10%
EPS	₹1.69	₹0.77	119.48%

Asset Quality:

Asset Quality	Q1 FY2024	Q4 FY2023	Q1 FY2023
Gross NPA	₹770.1830 crs	₹723.9646 crs	₹855.9992 crs
Gross NPA %	2.75%	2.76%	4.10%
Net NPA	₹325.1016 crs	₹312.0164 crs	₹441.2177 crs
Net NPA %	1.18%	1.21%	2.15%

Gross NPA was at ₹ 770.1830 crs in Q1 FY2024 against ₹ 855.9992 crs in Q1 FY2023. The same was at ₹ 723.9646 crs in Q4 FY2023.

Net NPA was at ₹ 325.1016 crs in Q1 FY2024 against ₹ 441.2177 crs in Q1 FY2023. The same was at ₹ 312.0164 crs in Q4 FY2023.

GNPA was at 2.75% of Gross advances as on June 30, 2023 as compared to 4.10% as on June 30, 2022 and 2.76% as of March 31, 2023.

Net NPA was at 1.18% of Gross advances as on June 30, 2023 as compared to 2.15% as on June 30, 2022 and 1.21% as of March 31, 2023.

Ratios	Q1 FY2024	Q4 FY2023	Q1 FY2023
RoA %	0.51%	0.56%	0.33%
CAR (BASEL III) %	22.06%	23.80%	24.62%

Return on Average Assets (RoA) is at 0.51% for Q1 FY2024 against 0.56% in Q4 FY2023 and 0.33% in Q1 FY2023.

In Q1 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 22.06%, as compared to 23.80% in Q4 FY2023 and 24.62% in Q1 FY2023.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 98.61 as compared to the previous close of Rs. 99.12. The total number of shares traded during the day was 249052 in over 1845 trades.

The stock hit an intraday high of Rs. 99.39 and intraday low of 96.17. The net turnover during the day was Rs. 24292358.00.

Source : Equity Bulls

Keywords

EquitasSmallFinanceBank Q1FY24 ResultUpdate