Stock Report

Utkarsh Small Finance Bank reports consolidated PAT of Rs. 116.05 crores in Q3 FY2023-24

Posted On : 2024-01-27 22:48:30( TIMEZONE : IST )

Utkarsh Small Finance Bank Limited has reported Standalone financial results for the period ended December 31, 2023.

Financial Results (Q3 FY2024) - QoQ Comparison

The company has reported total income of Rs. 888.6354 crores during the period ended December 31, 2023 as compared to Rs. 861.4876 crores during the period ended September 30, 2023.

The company has posted net profit / (loss) of Rs. 116.0576 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs. 114.4192 crores for the period ended September 30, 2023.

The company has reported EPS of Rs. 1.13 for the period ended December 31, 2023 as compared to Rs. 1.15 for the period ended September 30, 2023.

Financials	Q3 FY2024	Q2 FY2024	% Change
Total Income	₹ 888.6354 crs	₹861.4876 crs	3.15%
Net Profit	₹116.0576 crs	₹114.4192 crs	1.43%
EPS	₹1.13	₹1.15	-1.74%

Financial Results (Q3 FY2024) - YoY Comparison

The company has reported total income of Rs. 888.6354 crores during the period ended December 31, 2023 as compared to Rs.711.9918 crores during the period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.116.0576 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs.93.5016 crores for the period ended December 31, 2022.

The company has reported EPS of Rs.1.13 for the period ended December 31, 2023 as compared to Rs.1.04 for the period ended December 31, 2022.

Financials	Q3 FY2024	Q3 FY2023	% Change
Total Income	₹ 888.6354 crs	₹711.9918 crs	24.81%
Net Profit	₹116.0576 crs	₹93.5016 crs	24.12%
EPS	₹1.13	₹1.04	8.65%

Financial Results (9 Months Ended FY2024) - YoY Comparison

The company has reported total income of Rs.2562.5174 crores during the 9 Months period ended December 31, 2023 as compared to Rs.2044.0299 crores during the 9 Months period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.337.9720 crores for the 9 Months period ended December 31, 2023 as against net profit / (loss) of Rs.270.7040 crores for the 9 Months period ended December 31, 2022.

The company has reported EPS of Rs.3.28 for the 9 Months period ended December 31, 2023 as compared to Rs.3.01 for the 9 Months period ended December 31, 2022.

Financials	9 Months Ended FY2024	9 Months Ended FY2023	% Change
Total Income	₹2562.5174 crs	₹2044.0299 crs	25.37%
Net Profit	₹337.9720 crs	₹270.7040 crs	24.85%
EPS	₹3.28	₹3.01	8.97%

Asset Quality:

Asset Quality	Q3 FY2024	Q2 FY2024	Q3 FY2023
Gross NPA	₹464.4337 crs	₹403.5310 crs	₹448.4816 crs
Gross NPA %	3.04%	2.81%	3.58%
Net NPA	₹28.9269 crs	₹21.6413 crs	₹87.4250 crs
Net NPA %	0.19%	0.16%	0.72%

Gross NPA was at ₹ 464.4337 crs in Q3 FY2024 against ₹ 448.4816 crs in Q3 FY2023. The same was at ₹ 403.5310 crs in Q2 FY2024.

Net NPA was at ₹ 28.9269 crs in Q3 FY2024 against ₹ 87.4250 crs in Q3 FY2023. The same was at ₹ 21.6413 crs in Q2 FY2024.

GNPA was at 3.04% of Gross advances as on December 31, 2023 as compared to 3.58% as on December 31, 2022 and 2.81% as of September 30, 2023.

Net NPA was at 0.19% of Gross advances as on December 31, 2023 as compared to 0.72% as on December 31, 2022 and 0.16% as of September 30, 2023.

Ratios	Q3 FY2024	Q2 FY2024	Q3 FY2023
RoA %	0.58%	0.58%	0.56%
CAR (BASEL III) %	23.18%	24.82%	20.39%

Return on Average Assets (RoA) is at 0.58% for Q3 FY2024 against 0.58% in Q2 FY2024 and 0.56% in Q3 FY2023.

In Q3 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 23.18%, as compared to 24.82% in Q2 FY2024 and 20.39% in Q3 FY2023.

Shares of Utkarsh Small Finance Bank Limited was last trading in BSE at Rs. 58.07 as compared to the previous close of Rs. 58.72. The total number of shares traded during the day was 384626 in over 2742 trades.

The stock hit an intraday high of Rs. 59.18 and intraday low of 57.87. The net turnover during the day was Rs. 22421855.00.