26 May 2020 | 12:12 PM

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COMPANYNEWS
Au Small Finance Ban Q2 net profit jumps 88.08% at Rs 171.94 cr
  Au Small Finance Bank Ltd. | 17 Jan 2020 | 10:51 AM
Published on 10-22-2019
The bank reported standalone net profit of Rs 171.94 crore for the quarter ended September 30 2019 as compared to Rs 91.42 crore in the same period last year registering a year-on-year growth of 88.08 per cent.


Interest income of the bank rose by 51.23 per cent at Rs 1033.43 crore for the quarter ended September 30 2019 as against Rs 683.37 crore in the corresponding period last year.


During the July-September quarter total income rose substantially by 46.95 per cent to Rs 1184.22 crore from Rs 805.88 crore in the year ago period.


Meanwhile operating expenses increased by 43.73 per cent to Rs 906.52 crore from Rs 630.69 crore in the same period last year.


Operating profit surged 58.51 per cent to Rs 277.70 crore from Rs. 175.19 crore.


Provisions and Contingencies surged by 74.41 per cent at Rs 61.01 crore from Rs 34.98 crore a year ago.


NII the difference between interest earned on loans and interest paid on deposits increased by 40.67 per cent at Rs 451.59 crore versus Rs 321.03 crore in the year ago period. Non-interest income rose 23.08 per cent year-on-year to Rs 150.79 crore.


On the asset side gross non- performing assets (NPAs) fell to 2.01 per cent of the gross advances as at the end of September 30 2019 from a level of 2.03 per cent year earlier. Its net NPAs or bad loans too declined to 1.14 per cent of net advances on September 30 2019 from 1.28 per cent a year ago.