AU Small Finance Bank Q4 net rises 38 pc to Rs 169 cr

AU Small Finance Bank SFB on Thursday reported an over 38 per cent rise in net profit at Rs 168.98 crore for the last quarter of fiscal ended March 2021. Interest income moved up to Rs 1,292.37 crore during the reported quarter from Rs 1,183.45 crore in the year-ago period.

AU Small Finance Bank (SFB) on Thursday reported an over 38 per cent rise in net profit at Rs 168.98 crore for the last quarter of fiscal ended March 2021. The lender had posted a net profit of Rs 122.32 crore in the same quarter of 2019-20. Total income during Q4 FY21 rose to Rs 1,569 crore as against Rs 1,366.60 crore, it said in a regulatory filing. Interest income moved up to Rs 1,292.37 crore during the reported quarter from Rs 1,183.45 crore in the year-ago period. For the full year 2020-21, the net profit jumped by more than 73 per cent to Rs 1,170.68 crore as against Rs 674.78 crore. Income during the year too increased to Rs 6,401.60 crore from Rs 4,992 crore. Its asset quality worsened as the gross non-performing assets (NPAs) spiked to 4.25 per cent of gross advances as of March 31, 2021, from 1.68 per cent in the same period last year. Net NPAs or bad loans also soared to 2.18 per cent from 0.81 per cent. Provisions for bad loans and contingencies in Q4 of 2020-21 was raised to Rs 177.78 crore from Rs 150.57 crore earlier. The board of the lender approved issuing securities in one or more tranches for up to Rs 12,000 crore. It also okayed a proposal of raising up to Rs 2,500 by issuing equity shares or other instruments such as convertible securities linked to equity via qualified institutions placement or other such modes. Stock of the company closed 2.18 per cent down at Rs 1,123.95 apiece on BSE.