AU Small Fin Bank jumps after robust Q1 figures

AU Small Finance Bank surged 4.55% to Rs 662.1 at 11.25 IST on the BSE after net profit rose 147.7% to Rs 190.32 crore on 66.1% rise in total income to Rs 1168.33 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after market hours yesterday, 25 July 2019.

Meanwhile, the S&P BSE Sensex was up by 69.46 points or 0.18% to 37,900.21.

On the BSE, 22000 shares were traded in the counter so far compared with average daily volumes of 10000 shares in the past two weeks. The stock had hit a high of Rs 677 and a low of Rs 651.6 so far during the day. It hit a 52-week high of Rs 745 on 30 August 2018 and a 52-week low of Rs 502 on 22 October 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 485.70 crore as on 30 June 2019 as against Rs 470.13 crore as on 31 March 2019 and Rs 333.50 crore as on 30 June 2018.

The ratio of gross NPAs to gross advances stood at 2.08% as on 30 June 2019 as against 2.04% as on 31 March 2019 and 2.17% as on 30 June 2018.

The ratio of net NPAs to net advances stood at 1.25% as on 30 June 2019 as against 1.29% as on 31 March 2019 and 1.38% as on 30 June 2018.

The bank's capital adequacy ratio declined to 18.6% in Q1 June 2019 from 20.72% in Q1 June 2018. Provision coverage ratio of the bank was at 40.5 % as on Q1 June 2019 as compared to 36.5% in Q1 June 2018.

Net Interest Income (NII) rose 38% to Rs 396 crore in Q1 June 2019 over Q1 June 2018. The current account to savings account ratio (CASA) declined to 19% in Q1 June 2019 from 28% in Q1 June 2018.

Commenting on the performance, Sanjay Agarwal, MD & CEO of AU Small Finance Bank said, "Albeit weak market sentiments and a challenging macro environment, growth and asset quality continued to be on track last quarter and were augmented by our diversified secured retail asset franchise as well as our prudent liquidity and risk management."

AU Small Finance Bank is a small finance bank with operations across its 500+ touch points including 306 bank branches, 106 asset centres, 23 offices, 291 ATMs across 11 states of North, West and Central India and a team of 10,000+ employees.

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