Ujjivan Financial Services Q4 net profit at Rs 12 cr

Ujjivan Financial Services, the holding company and promoter of Ujjivan Small Finance Bank, Thursday reported a standalone net profit of Rs 11.91 crore in the last quarter of fiscal ended March 2019.

It had reported a net loss of Rs 19.52 lakh in the corresponding quarter last year.

Total standalone income rose to Rs 13.40 crore during the March quarter from Rs 1.99 crore in the year-ago period, it said in a regulatory filing.

On a consolidated basis, Ujjivan Financial Services net profit rose to Rs 198.40 crore in 2018-19 as against Rs 7.30 crore in preceding fiscal.

Total income was up by 29.3 per cent to Rs 2,046 crore during the year ended March 2019.

The company's loan book grew 46.2 per cent to Rs 11,049 crore, while net loan book stood at Rs 10,552 crore, rising 43.8 per cent over the year-ago period, it said in a release.

Gross non-performing assets (NPAs) stood at 0.9 per cent, while net NPAs stood at 0.3 per cent during the fiscal ended March 2019 as against 3.6 per cent and 0.7 per cent, respectively, in 2017-18.

The non-banking financial company said it wrote-off of Rs 39 crore during the last quarter of 2018-19.

"Our asset businesses grew very well this year higher than our guidance in the beginning of the year. Overall, the business fundamentals are strong and we are set to make generational changes in our leadership and to grow exponentially in the years to come and establish ourselves as a leading mass market bank," Ujjivan Small Finance Bank MD and CEO Samit Ghosh said.

Regarding listing of the bank, Ghosh said the company will continue to work closely with RBI on various ways to protect interest of shareholders and comply with the licensing conditions.

The board of directors of the company have recommended a dividend of 4.5 per cent or Rs 0.45 per equity share for 2018-19, subject to shareholders approval, it said.

Shares of Ujjivan Financial Services Thursday closed 0.52 per cent higher at Rs 340.50 on the BSE.