The Jaipur-based company had posted a net profit of Rs 169 crore in the same quarter of the previous fiscal 2020-21.
PTI
April 26, 2022 / 07:22 PM IST
‘); $ (‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]); //if(resData[stkKey][‘percentchange’] > 0){ // $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); // $ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); //}else if(resData[stkKey][‘percentchange’] = 0){ $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); //$ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); $ (‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”); }else if(resData[stkKey][‘percentchange’] 0) { var resStr=”; var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( data ) { $ (‘#backInner1_rhsPop’).html(data); $ .ajax({url:url, type:”POST”, dataType:”json”, data:{q_f:typparam1,wSec:secglbVar,wArray:lastRsrs}, success:function(d) { if(typparam1==’1′) // rhs { var appndStr=”; var newappndStr = makeMiddleRDivNew(d); appndStr = newappndStr[0]; var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); glbbid=v.id; } }); } }); } else { AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function commonPopRHS(e) { /*var t = ($ (window).height() – $ (“#” + e).height()) / 2 + $ (window).scrollTop(); var n = ($ (window).width() – $ (“#” + e).width()) / 2 + $ (window).scrollLeft(); $ (“#” + e).css({ position: “absolute”, top: t, left: n }); $ (“#lightbox_cb,#” + e).fadeIn(300); $ (“#lightbox_cb”).remove(); $ (“body”).append(”); $ (“#lightbox_cb”).css({ filter: “alpha(opacity=80)” }).fadeIn()*/ $ (“#myframe”).attr(‘src’,’https://accounts.moneycontrol.com/mclogin/?d=2′); $ (“#LoginModal”).modal(); } function overlay(n) { document.getElementById(‘back’).style.width = document.body.clientWidth + “px”; document.getElementById(‘back’).style.height = document.body.clientHeight +”px”; document.getElementById(‘back’).style.display = ‘block’; jQuery.fn.center = function () { this.css(“position”,”absolute”); 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AU Small Finance Bank (SFB) on Tuesday said its net profit soared 105 per cent to Rs 346 crore in the quarter ended March 2022, supported by lower provisioning for bad loans and improvement in business scenario.
The Jaipur-based company had posted a net profit of Rs 169 crore in the same quarter of the previous fiscal 2020-21.
Total income during January-March period rose to Rs 1,978.41 crore, from Rs 1,539.54 crore in the same quarter of 2020-21, the bank said in a regulatory filing.
The net interest margin — difference between interest paid and interest received — during the quarter improved to 6.3 per cent from 5.7 per cent in the year-ago period.
The cost of funds for the bank reduced to 5.7 per cent from 6.5 per cent.
For the full year 2021-22, the lender posted a net profit of Rs 1,130 crore, down slightly from Rs 1,171 crore in 2020-21.
However, the full-year income rose by 21 per cent to Rs 6,915 crore. The net interest income jumped by 37 per cent to Rs 3,234 crore, the bank said.
On the asset quality front, AU SFB witnessed significant improvement with the gross non-performing assets (NPAs) falling to 2 per cent of the gross advances as of March 31, 2022, as against 4.3 per cent a year ago.
Likewise, the net NPAs (or bad loans) were trimmed to 0.5 per cent as against 2.2 per cent.
Apart from a provision of Rs 653 crore against the GNPA pool, bank has additionally maintained a provision buffer of Rs 192 crore against restructured book, contingency provision of Rs 157 crore, floating provision of Rs 41 crore and standard provision of Rs 139 crore, the SFB said.
The deposits crossed Rs 50,000 crore and stood at Rs 52,585 crore, up 46 per cent year-on-year and 19 per cent quarter-on-quarter.
Also, there was the highest ever quarterly disbursement of Rs 10,295 crore in March 2022, up by 39 per cent.
The provision coverage ratio stood at 75 per cent against 50 per cent earlier.
The bank said its digital properties like AU 0101, video banking, credit cards and UPI QR continue to see strong momentum.
The bank has issued 1.7 lakh plus credit cards and installed over 4.8 lakh QR codes till March 31, 2022.
The board of directors recommended offering bonus shares in the ratio of 1:1.
It also recommended a dividend of Re 1 per equity share (pre-bonus issue) or Rs 0.50 per share (ex-bonus issue) for 2021-22.
“Our financial performance in the current quarter has been quite strong and we have used the headroom available, judiciously, to secure our future by tightening our provisioning policy, increasing our coverage ratio, creating floating provision and expanding our board.”
“This coupled with our investments in people, digital assets and brand-building have enabled us to build a customer-centric, future ready bank,” said Sanjay Agarwal, MD and CEO, AU Small Finance Bank.
The bank expanded its presence to 39 new touchpoints in the form of asset centres, bank branches, bank outlet (BO) and smart BC and its network is spread across 919 touchpoints as on March 31, 2022.
AU SFB said during the quarter, it also tied up with Tata Motors to offer financing options to customers.
Further, it strengthened the board and appointed Kamlesh Shivji Vikamsey, Senior Partner of Khimji Kunverji & Co. LLP, as non-executive independent director (additional director) with effect from April 25, 2022 for a period of three years, subject to the approval of shareholders.
Stock of AU SFB closed at Rs 1,416 apiece on BSE, up 3.71 per cent from the previous close.
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