 "Ujjivan Small Finance Bank Q2 results: Net profit falls 29% to Rs 233 cr")
Ujjivan Small Finance Bank on Thursday reported a 29 per cent decline in net profit to Rs 233 crore for the quarter ended September 2024.
The lender earned a net profit of Rs 328 crore in the year-ago period.
However, total income rose to Rs 1,820 crore in the quarter under review from Rs 1,580 crore in the same period a year ago, Ujjivan Small Finance Bank said in a regulatory filing.
Net interest income of the bank improved to Rs 1,613 crore in the July-September quarter from Rs 1,391 crore in the September 2023 quarter.
The bank's asset quality deteriorated with gross non-performing assets (NPAs) rising to 2.52 per cent of gross advances at the end of the September 2024 quarter over 2.35 per cent a year ago.
However, net NPAs or bad loans declined to 0.56 per cent against 0.89 per cent in the year-ago period.
The Capital Adequacy Ratio of the bank decreased to 23.38 per cent from 25.19 per cent at the end of September 2023.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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