Stock Report

Utkarsh Small Finance Bank Ltd Q1 FY2024 PAT drops QoQ to Rs. 107.49 crores

Posted On : 2023-08-09 00:18:16( TIMEZONE : IST )

Utkarsh 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. 812.3944 crores during the period ended June 30, 2023 as compared to Rs. 760.2561 crores during the period ended March 31, 2023.

The company has posted net profit / (loss) of Rs. 107.4952 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs. 133.7979 crores for the period ended March 31, 2023.

The company has reported EPS of Rs. 1.20 for the period ended June 30, 2023 as compared to Rs. 1.49 for the period ended March 31, 2023.

Financials	Q1 FY2024	Q4 FY2023	% Change
Total Income	₹ 812.3944 crs	₹760.2561 crs	6.86%
Net Profit	₹107.4952 crs	₹133.7979 crs	-19.66%
EPS	₹1.20	₹1.49	-19.46%

Financial Results (Q1 FY2024) - YoY Comparison

The company has reported total income of Rs. 812.3944 crores during the period ended June 30, 2023 as compared to Rs.655.3311 crores during the period ended June 30, 2022.

The company has posted net profit / (loss) of Rs.107.4952 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs.89.4911 crores for the period ended June 30, 2022.

The company has reported EPS of Rs.1.20 for the period ended June 30, 2023 as compared to Rs.1 for the period ended June 30, 2022.

Financials	Q1 FY2024	Q1 FY2023	% Change
Total Income	₹ 812.3944 crs	₹655.3311 crs	23.97%
Net Profit	₹107.4952 crs	₹89.4911 crs	20.12%
EPS	₹1.20	₹1	20.00%

Asset Quality:

Asset Quality	Q1 FY2024	Q4 FY2023	Q1 FY2023
Gross NPA	₹431.1258 crs	₹431.5036 crs	₹627.9811 crs
Gross NPA %	3.13%	3.23%	5.73%
Net NPA	₹43.9925 crs	₹50.5116 crs	₹174.3131 crs
Net NPA %	0.33%	0.39%	1.66%

Gross NPA was at ₹ 431.1258 crs in Q1 FY2024 against ₹ 627.9811 crs in Q1 FY2023. The same was at ₹ 431.5036 crs in Q4 FY2023.

Net NPA was at ₹ 43.9925 crs in Q1 FY2024 against ₹ 174.3131 crs in Q1 FY2023. The same was at ₹ 50.5116 crs in Q4 FY2023.

GNPA was at 3.13% of Gross advances as on June 30, 2023 as compared to 5.73% as on June 30, 2022 and 3.23% as of March 31, 2023.

Net NPA was at 0.33% of Gross advances as on June 30, 2023 as compared to 1.66% as on June 30, 2022 and 0.39% as of March 31, 2023.

Ratios	Q1 FY2024	Q4 FY2023	Q1 FY2023
RoA %	0.57%	0.73%	0.60%
CAR (BASEL III) %	19.83%	20.64%	21.78%

Return on Average Assets (RoA) is at 0.57% for Q1 FY2024 against 0.73% in Q4 FY2023 and 0.60% in Q1 FY2023.

In Q1 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 19.83%, as compared to 20.64% in Q4 FY2023 and 21.78% in Q1 FY2023.

Shares of Utkarsh Small Finance Bank Limited was last trading in BSE at Rs. 51.57 as compared to the previous close of Rs. 53.35. The total number of shares traded during the day was 1373988 in over 6169 trades.

The stock hit an intraday high of Rs. 53.80 and intraday low of 51.19. The net turnover during the day was Rs. 71853492.00.