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Utkarsh Small Finance Bank shares plunged 14.5 per cent on Monday (February 17, 2025), logging an all-time low at Rs 24 per share on BSE. The selling pressure on the counter came after the small finance bank posted weak Q3 results
Around 10:28 AM, Utkarsh Small Finance share price was down 10.68 per cent at Rs 25.1 per share on BSE. In comparison, the BSE Sensex was down 0.61 per cent at 75,475.71. The market capitalisation of the company stood at Rs 2,765 crore. The 52-week high of the stock was at Rs 61.97 per share and the 52-week low of the stock was at Rs 24 per share.
Utkarsh Small Finance Bank reported its Q3 results on Friday after market closing. The company posted a consolidated net loss of Rs 168 crore as compared to a profit of Rs 116 crore a year ago. The small finance bank's net interest income (NII) for the quarter under review stood at Rs 480 crore as against Rs 482 crore.
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Bank's gross non-performing asset (GNPA) stood at Rs 1,176.76 crore as compared to Rs 718.73 crore in Q2. Its Net NPA for the third quarter stood at Rs 457.69 crore as against Rs 159.9 crore a year ago.
As per the filing, Gross NPAs were 6.17 per cent as on December 31, 2024, against 3.88 per cent as on September 30, 2024 (3.04 per cent as on December 31, 2023). Net NPAs were 2.5 per cent as on December 31, 2024 against 0.89 per cent as on September 30, 2024 (0.19 per cent as on December 31, 2023). Provision coverage ratio, including floating provision, was 61 per cent as on December 31, 2024.
As per the management, the operating environment remained difficult for micro-banking lending in Q3FY25 on account of credit supply tightening for underlying micro-banking borrowers following guard rail norms, the impact of which is visible in higher provisioning in Q3FY25.
"Though guard rail advisory has impacted disbursements also however it is a structurally positive step for the sector, the benefit of which will be seen soon. We are seeing stabilization of collection efficiency for regular bucket (0 DPD clients), the overall stress level is also peaking out and expect improvement in collection efficiency in the current quarter and the first quarter of next financial year," said Govind Singh, MD and CEO, Utkarsh Small Finance Bank.
In the past one year, Utkarsh Small Finance Bank shares have lost 49.5 per cent against Sensex's rise of 4.4 per cent.
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