Equitas Small Finance Bank Ltd posts Q2 FY2024 PAT of Rs. 198.13 crores

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

Financial Results (Q2 FY2024) - QoQ Comparison

The company has reported total income of Rs. 1540.3672 crores during the period ended September 30, 2023 as compared to Rs. 1425.3267 crores during the period ended June 30, 2023.

The company has posted net profit / (loss) of Rs. 198.1382 crores for the period ended September 30, 2023 as against net profit / (loss) of Rs. 191.2005 crores for the period ended June 30, 2023.

The company has reported EPS of Rs. 1.74 for the period ended September 30, 2023 as compared to Rs. 1.69 for the period ended June 30, 2023.

Financials	Q2 FY2024	Q1 FY2024	% Change
Total Income	₹ 1540.3672 crs	₹1425.3267 crs	8.07%
Net Profit	₹198.1382 crs	₹191.2005 crs	3.63%
EPS	₹1.74	₹1.69	2.96%

Financial Results (Q2 FY2024) - YoY Comparison

The company has reported total income of Rs. 1540.3672 crores during the period ended September 30, 2023 as compared to Rs.1147.3941 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs.198.1382 crores for the period ended September 30, 2023 as against net profit / (loss) of Rs.116.4213 crores for the period ended September 30, 2022.

The company has reported EPS of Rs.1.74 for the period ended September 30, 2023 as compared to Rs.0.92 for the period ended September 30, 2022.

Financials	Q2 FY2024	Q2 FY2023	% Change
Total Income	₹ 1540.3672 crs	₹1147.3941 crs	34.25%
Net Profit	₹198.1382 crs	₹116.4213 crs	70.19%
EPS	₹1.74	₹0.92	89.13%

Financial Results (Half Year Ended FY2024) - YoY Comparison

The company has reported total income of Rs.2965.6939 crores during the 6 Months period ended September 30, 2023 as compared to Rs.2221.0131 crores during the 6 Months period ended September 30, 2022.

The company has posted net profit / (loss) of Rs.389.3387 crores for the 6 Months period ended September 30, 2023 as against net profit / (loss) of Rs.213.4265 crores for the 6 Months period ended September 30, 2022.

The company has reported EPS of Rs.3.43 for the 6 Months period ended September 30, 2023 as compared to Rs.1.69 for the 6 Months period ended September 30, 2022.

Financials	Half Year Ended FY2024	Half Year Ended FY2023	% Change
Total Income	₹2965.6939 crs	₹2221.0131 crs	33.53%
Net Profit	₹389.3387 crs	₹213.4265 crs	82.42%
EPS	₹3.43	₹1.69	102.96%

Asset Quality:

Asset Quality	Q2 FY2024	Q1 FY2024	Q2 FY2023
Gross NPA	₹660.4966 crs	₹770.1830 crs	₹870.2623 crs
Gross NPA %	2.27%	2.75%	3.91%
Net NPA	₹279.2889 crs	₹325.1016 crs	₹430.8818 crs
Net NPA %	0.97%	1.18%	1.97%

Gross NPA was at ₹ 660.4966 crs in Q2 FY2024 against ₹ 870.2623 crs in Q2 FY2023. The same was at ₹ 770.1830 crs in Q1 FY2024.

Net NPA was at ₹ 279.2889 crs in Q2 FY2024 against ₹ 430.8818 crs in Q2 FY2023. The same was at ₹ 325.1016 crs in Q1 FY2024.

GNPA was at 2.27% of Gross advances as on September 30, 2023 as compared to 3.91% as on September 30, 2022 and 2.75% as of June 30, 2023.

Net NPA was at 0.97% of Gross advances as on September 30, 2023 as compared to 1.97% as on September 30, 2022 and 1.18% as of June 30, 2023.

Ratios	Q2 FY2024	Q1 FY2024	Q2 FY2023
RoA %	0.49%	0.51%	0.38%
CAR (BASEL III) %	21.33%	22.06%	23.08%

Return on Average Assets (RoA) is at 0.49% for Q2 FY2024 against 0.51% in Q1 FY2024 and 0.38% in Q2 FY2023.

In Q2 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 21.33%, as compared to 22.06% in Q1 FY2024 and 23.08% in Q2 FY2023.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 98.79 as compared to the previous close of Rs. 99.80. The total number of shares traded during the day was 139029 in over 1047 trades.

The stock hit an intraday high of Rs. 100.79 and intraday low of 98.25. The net turnover during the day was Rs. 13791936.00.

Source : Equity Bulls

Keywords

EquitasSmallFinanceBank Q2FY24 H1FY24 ResultUpdate