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Equitas SFB reports flat growth in net profit at Rs 108 crore in December quarter

The South-based SFB had posted a net profit of Rs 111 crore in the year-ago quarter.

January 28, 2022 / 09:42 PM IST
Equitas Small Finance Bank | Representative image

Equitas Small Finance Bank | Representative image

Equitas Small Finance Bank (SFB) on Friday reported flat growth in its net profit at Rs 108 crore for the quarter ended December 2021, with marginal rise in total income and interest income. The South-based SFB had posted a net profit of Rs 111 crore in the year-ago quarter.

Total income of the bank rose marginally to Rs 1,035 crore during October-December period of 2021-22, as against Rs 1,012 crore earlier. Interest income was at Rs 901 crore, as compared to Rs 857 crore. The lender said its advances grew by 13 per cent as of December 31, 2021 to Rs 19,687 crore, of which 81 per cent were secured loans. It disbursed loans worth Rs 2,861 crore in Q3 FY22.

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On the asset front, there was deterioration as the gross non-performing assets (NPAs) rose to 4.61 per cent of the gross advances, as against 2.27 per cent at the end of December 2020. However, it improved when compared to 4.82 per cent in the quarter ended September 2021. Likewise, the net NPAs or bad loans stood higher at 2.51 per cent as against 0.67 per cent a year ago and 2.46 per cent in the preceding quarter.