Stock Report

Utkarsh Small Finance Bank Ltd Q2 FY2023-24 net profit at Rs. 114.41 crores

Posted On : 2023-11-05 23:23:04( TIMEZONE : IST )

Utkarsh 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. 861.4876 crores during the period ended September 30, 2023 as compared to Rs. 812.3944 crores during the period ended June 30, 2023.

The company has posted net profit / (loss) of Rs. 114.4192 crores for the period ended September 30, 2023 as against net profit / (loss) of Rs. 107.4952 crores for the period ended June 30, 2023.

The company has reported EPS of Rs. 1.15 for the period ended September 30, 2023 as compared to Rs. 1.20 for the period ended June 30, 2023.

Financials	Q2 FY2024	Q1 FY2024	% Change
Total Income	₹ 861.4876 crs	₹812.3944 crs	6.04%
Net Profit	₹114.4192 crs	₹107.4952 crs	6.44%
EPS	₹1.15	₹1.20	-4.17%

Financial Results (Q2 FY2024) - YoY Comparison

The company has reported total income of Rs. 861.4876 crores during the period ended September 30, 2023 as compared to Rs.676.7070 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs.114.4192 crores for the period ended September 30, 2023 as against net profit / (loss) of Rs.87.7113 crores for the period ended September 30, 2022.

The company has reported EPS of Rs.1.15 for the period ended September 30, 2023 as compared to Rs.0.98 for the period ended September 30, 2022.

Financials	Q2 FY2024	Q2 FY2023	% Change
Total Income	₹ 861.4876 crs	₹676.7070 crs	27.31%
Net Profit	₹114.4192 crs	₹87.7113 crs	30.45%
EPS	₹1.15	₹0.98	17.35%

Financial Results (Half Year Ended FY2024) - YoY Comparison

The company has reported total income of Rs.1673.8820 crores during the 6 Months period ended September 30, 2023 as compared to Rs.1332.0381 crores during the 6 Months period ended September 30, 2022.

The company has posted net profit / (loss) of Rs.221.9144 crores for the 6 Months period ended September 30, 2023 as against net profit / (loss) of Rs.177.2024 crores for the 6 Months period ended September 30, 2022.

The company has reported EPS of Rs.2.24 for the 6 Months period ended September 30, 2023 as compared to Rs.1.97 for the 6 Months period ended September 30, 2022.

Financials	Half Year Ended FY2024	Half Year Ended FY2023	% Change
Total Income	₹1673.8820 crs	₹1332.0381 crs	25.66%
Net Profit	₹221.9144 crs	₹177.2024 crs	25.23%
EPS	₹2.24	₹1.97	13.71%

Asset Quality:

Asset Quality	Q2 FY2024	Q1 FY2024	Q2 FY2023
Gross NPA	₹403.5310 crs	₹431.1258 crs	₹543.8454 crs
Gross NPA %	2.81%	3.13%	4.61%
Net NPA	₹21.6413 crs	₹43.9925 crs	₹118.5631 crs
Net NPA %	0.16%	0.33%	1.04%

Gross NPA was at ₹ 403.5310 crs in Q2 FY2024 against ₹ 543.8454 crs in Q2 FY2023. The same was at ₹ 431.1258 crs in Q1 FY2024.

Net NPA was at ₹ 21.6413 crs in Q2 FY2024 against ₹ 118.5631 crs in Q2 FY2023. The same was at ₹ 43.9925 crs in Q1 FY2024.

GNPA was at 2.81% of Gross advances as on September 30, 2023 as compared to 4.61% as on September 30, 2022 and 3.13% as of June 30, 2023.

Net NPA was at 0.16% of Gross advances as on September 30, 2023 as compared to 1.04% as on September 30, 2022 and 0.33% as of June 30, 2023.

Ratios	Q2 FY2024	Q1 FY2024	Q2 FY2023
RoA %	0.58%	0.57%	0.56%
CAR (BASEL III) %	24.82%	19.83%	21.22%

Return on Average Assets (RoA) is at 0.58% for Q2 FY2024 against 0.57% in Q1 FY2024 and 0.56% in Q2 FY2023.

In Q2 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 24.82%, as compared to 19.83% in Q1 FY2024 and 21.22% in Q2 FY2023.

Shares of Utkarsh Small Finance Bank Limited was last trading in BSE at Rs. 50.23 as compared to the previous close of Rs. 50.12. The total number of shares traded during the day was 397719 in over 2224 trades.

The stock hit an intraday high of Rs. 51.11 and intraday low of 50.01. The net turnover during the day was Rs. 20059640.00.