AU Small Finance Bank's shares slump 4% on muted growth in Q1 biz update

AU Small Finance Bank’s stock dipped up to 4.25 per cent at Rs 250.55 per share on the BSE in Monday’s intraday trade. This came after the bank reported its business estimates for the first quarter of the fiscal year 2024-25 (Q1FY25). 

In Q1FY25, the bank’s total deposits dipped marginally by 0.4 per cent quarter on quarter (Q-o-Q) to Rs 97,290 crore, with current account and savings account (CASA) deposits growing by 1.8 per cent QoQ at Rs 32,034 crore, the small finance bank said in an exchange filing on Friday. The bank’s CASA ratio was flat sequentially and stood at 33 per cent of its total deposits.

Further the bank’s gross loan portfolio grew by 3.4 per cent QoQ to Rs 99,800 crore while the gross advances rose by 4.9 per cent QoQ to Rs 90,700 crore.

In the fourth quarter of fiscal year 2023-24 (Q4FY24), total deposits grew by 26 per cent year on year (YoY), reaching Rs 87,182 crore compared. The CASA deposits rose by 9 per cent YoY to Rs 29,126 crore.

In Q4FY24, AU Small Finance Bank reported a 12.69 per cent YoY decline in net profit to Rs 370.73, compared to Rs 424.6 crore in the same quarter last year

At 11:49 AM; the stock of the company was trading 4 per cent lower at Rs 645.70 per share on the BSE. In comparison the BSE Sensex fell 0.17 per cent to 79,860 levels.

At present, the shares of the company are trading at a price to earnings multiple of 32.55 times with an earning per share of Rs 20.66, BSE data showed.