AU Small Finance Bank rose 3.78% to Rs 679.05 after net profit rose 88.1% to Rs 171.94 crore on a 46.9% increase in total income to Rs 1184.21 crore in Q2 September 2019 over Q2 September 2018.
The result was announced on Monday, 21 October 2019. Meanwhile, the S&P BSE Sensex was down 79 points or 0.20% to 39219.05.The bank's gross non-performing assets (NPAs) stood at Rs 503.84 crore as on 30 September 2019 as against Rs 485.70 crore as on 30 June 2019 and Rs 371.04 crore as on 30 September 2018.
The ratio of gross NPAs to gross advances stood at 2.01% as on 30 September 2019 as against 2.08% as on 30 June 2019 and 2.03% as on 30 September 2018.
The ratio of net NPAs to net advances stood at 1.14% as on 30 September 2019 as against 1.25% as on 30 June 2019 and 1.28% as on 30 September 2018.
The bank's provisions and contingencies rose 74.41% to Rs 61.01 crore in Q2 September 2019 over September 2018.
Provision coverage ratio of the bank was at around 44% as on 30 September 2019.
The bank said its board approved the appointment of Mankal Shankar Sriram and Pushpinder Singh as additional director (independent) on the board of the bank with effect from 21 October 2019 subject to applicable regulatory requirements. The board also approved the reappointment of Sanjay Agarwal, as managing director & CEO and Uttam Tibrewal, as whole time director of the bank for a period of three years. Appointment will be effective from 19 April 2020, subject to RBI and other regulatory approvals as applicable.
On the BSE, 12,456 shares were traded in the counter so far compared with average daily volumes of 3,875 shares in the past two weeks. The stock hit a high of Rs 679.85 and a low of Rs 662.95 so far during the day.
The stock hit a 52-week high of Rs 719.25 on 30 May 2019. The stock hit a 52-week low of Rs 502 on 09 Nov 2018.
AU Small Finance Bank is a scheduled commercial bank originating from Jaipur with ~602 touch points operational across 11 states of North, West and Central India and a team of 14,000+ employees.
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