Q3FY18 Results: Ujjivan Financial Services posts healthy numbers
Ujjivan Financial Services reported healthy set of numbers in Q3FY18 with a stable loan book growth and steady improvement in asset quality and net interest margins.
The NII for the quarter grew by 16 per cent qoq and declined 5.3 per cent yoy to Rs.216.8 crore in Q3FY18 as compared to Rs.186 crore in previous quarter and Rs. 228 crore in the previous year's corresponding quarter. This was largely aided by 5.5 per cent qoq increase in interest income and 7.7 per cent qoq decline in interest expenses.
Gross Loan Book at Rs. 7,095.28 crore grew by 6.4 per cent over Q2FY18 and 7.7 per cent rise over previous year corresponding quarter. Further, the net interest margin for the quarter stood at 11.8 per cent as compared to 10.55 per cent in previous quarter and 13.7 per cent Q3FY17.
The asset quality for the quarter also improved steadily as GNPAs and NNPAs for the quarter stood at 4.24 per cent and 1.04 per cent in Q3FY18 as compared to 4.99 per cent and 1.38 per cent in previous quarter. Further, the company posted net profit of Rs. 29.31 crore in Q3FY18 as compared to net loss of Rs. 11.9 crore in previous quarter and net profit of Rs.43.9 crore in previous year corresponding quarter.
The stock opened at Rs. 353 per share on Monday and closed at Rs.349, down by 2.19 per cent.