The online revenue of Ujjivan Small Finance Financial institution (SFB) soared 86.6 per cent to ₹136.49 crore within the quarter ended March 31, 2021 as towards ₹73.15 crore in the identical interval within the earlier fiscal. Nevertheless, for the complete fiscal 2020-21, it reported a internet revenue of ₹8.3 crore as in comparison with ₹349.92 crore in 2019-20.
For the quarter ended March 31, 2021, Ujjivan SFB reported a 21 per cent drop in its internet curiosity earnings of ₹368 crore as towards ₹467 crore in the identical interval a yr in the past. Web curiosity margin was 7.9 per cent within the fourth quarter final fiscal versus 11.2 per cent a yr in the past. Different earnings grew 62.5 per cent to ₹117.29 crore within the January to March 2021 quarter versus ₹72.16 crore a yr in the past.
The financial institution’s gross non performing belongings shot as much as ₹1,070.6 crore or 7.07 per cent of gross advances as on March 31, 2021 as towards 0.97 per cent on March 31, 2020. Web NPAs additionally jumped to 2.93 per cent of internet advances as on March 31, 2021 from 0.2 per cent a yr in the past.
₹74 crore write-offs
It made write-offs price ₹74 crore within the fourth quarter of final fiscal whereas provision protection ratio as on Mar 2021 was 60 per cent.
“We proceed to hold ₹172 crore of Covid provisions which gives cushion for credit score value in upcoming months. Because the enterprise surroundings stays impacted attributable to pandemic, we’re taking sufficient steps to safeguard the pursuits of our workers, prospects, traders and all different stakeholders,” stated Nitin Chugh, MD and CEO, Ujjivan SFB.
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