Results from Ujjivan SFB Q1: At Rs 324 crore, net profit reached an all-time high

On July 27, the Bengaluru-based Ujjivan Small Finance Bank announced its highest-ever quarterly net profit of Rs 324 crore for the April–June FY24 quarter. In the same quarter the year before, the bank reported a net profit of Rs 202 crore.

The lender's net interest income (NII) increased by 32% to Rs 793 crore from Rs 600 crore in the same quarter previous year.  The bank's net interest margin (NIM) decreased from 9.6% to 9.2% down by 40 basis points (bps).

The bank's gross non-performing asset (GNPA) decreased from 6.51% to 2.62% in the previous quarter. Its net non-performing assets (NNPA) decreased from 0.11% in the same period last year to 0.06% this quarter.

Source: Media Reports