Ujjivan SFB Q4 results: Net profit up 6.5% YoY at ₹329.6 crore, NII jumps 26.4%; dividend declared

Ujjivan Small Finance Bank (SFB) on Saturday reported a 6.5% year-on-year (YoY) climb in its net profit to ₹329.6 crore in the quarter ended March 2024.

In the year-ago quarter of March 2023, the private microlender had recorded a net profit of ₹309.5 crore.

The bank's net interest income (NII) – the difference between interest earned and interest paid – surged by 26.4% year-on-year to ₹933 crore in Q4FY24, as against ₹738 crore in Q4FY23.

Total deposits as of March 31, 2024 stood at ₹31,462 crore, up 23% as compared to the year-ago period and 6% as against the quarter ended December 31, 2023.

Ujjivan SFB informed the exchanges that its board has recommended a "final dividend of ₹1.5 per share", subject to shareholders approval. The dividend has been declared at a rate of 15% per equity share of face value of ₹10 each.

NPA rises QoQ

The gross non-performing assets (NPA) of Ujjivan SFB stood at ₹612.5 crore at the end of March 2024 quarter, higher as compared to ₹570.7 crore as of December 31, 2023.

The gross NPA ratio increased to 2.23% during the quarter under review as against 2.18% in the preceding quarter.

The net NPA, in absolute terms, increased to ₹76.3 crore in Q4FY24 from ₹42.8 crore in Q3FY24. The net NPA ratio increased to 0.28% from 0.17% in the same period.

Shares of Ujjivan SFB climbed 1.1% during the special trading session on May 18, settling at ₹53.3 apiece on the NSE.