AU Small Finance Bank Q3 net down 5 pc at Rs 79 cr

AU Small Finance Bank today reported a fall of nearly 5 per cent in its net profit at Rs 78.92 crore in the third quarter ended December on uptick in bad loan provisions and higher expenses.
It had earned a net profit of Rs 82.92 crore in the similar quarter of the previous fiscal.
Total income of the bank, however, was higher at Rs 570.20 crore as against Rs 353.23 crore in same period a year ago, it said in a regulatory filing.
Total expenditure of the Jaipur-based small finance bank increased substantially to Rs 417.29 crore during the third quarter of 2017-18, as against Rs 208.26 crore previously.

Allocation as a provision for bad loans and contingencies increased to Rs 152.92 crore from Rs 144.97 crore.
On asset quality front, there was only marginal increase in gross non-performing assets (NPAs) at 2.83 per cent of the gross advances by the end of December 2017, as against a ratio of 2.75 per cent in the similar period a year ago.

In absolute value, it was at Rs 286.23 crore as against Rs 167 crore.
Net NPAs or bad loans however were lower at 1.87 per cent (Rs 187.72 crore) during the December quarter, from 1.92 per cent (115.51 crore) in the year ago period.

Stock of the bank closed 1.40 per cent down at Rs 679 apiece on BSE today.