Ujjivan Small Finance Bank shares hit a fresh 52-week high after Q1 updates!

Yesterday after the market closer Ujjivan Small Finance Bank Ltd reported business highlights (provisional) for the quarter ended June 30, 2023, and it has also submitted the annual report for the Financial Year 2022-23.  

Talking about the deposit for the quarter ending June 30, 2023, total deposits increased to Rs 26,655 crore representing a growth of 44% compared to June 30, 2022 and 4% compared to March 31, 2023. The growth of Current Account Savings Account (CASA) deposits was moderate, with a 27% year-on-year (YoY) increase and a 3% quarter-on-quarter (QoQ) decrease. CASA ratio stood at 24.6% compared to 27.9% on June 30, 2022, and 26.4% on March 31, 2023. 

Advances grew to Rs 25,346 crore showing a 31% YoY increase and a 5% QoQ increase. Disbursement momentum remained strong, with a 22% YoY growth, totalling Rs 5,280 crore for Q1FY24. This growth was driven by robust performance in Microbanking, Housing, and FIG (Financial Institutions Group). Affordable Housing saw a strong quarterly disbursement, with Rs 418 crore, marking a 45% YoY increase. The gross loan book for Affordable Housing was close to Rs 3,700 crore. Credit quality continues to improve with PAR/GNPA at 3.8%/2.4% vs 3.8%/2.6% respectively as on March 31, 2023.  

Bank’s highlights for FY23 are 50% growth in total income and stood at Rs 4,754 crores. Profit after tax stood at Rs 1,110 crore. Disbursements have increased by 42% and stood at Rs 20,037 crores. Gross loan book has increased by 33% and stood at Rs 24,085 crore. Total deposits have increased by 40% and stood at Rs Rs 25,538 crore. Gross NPA has decreased from 7.1% to 2.6% and Net NPA has decreased from 0.6% to 0.04%.  

In the last trading session, it closed at Rs 40.66 and today it opened at Rs 41.54. In today’s trading session, it hit a fresh 52-week high at Rs 42.80 and it has a 52-week low of Rs 15.65. Currently, it is trading at Rs 41.14 up by 1.18%. Over the past one year, it has increased from Rs 16.25 representing 153.16% growth from the current price.   

Ujjivan Small Finance Bank Limited is a mass market-focused bank in India, catering to financially unserved and underserved segments and committed to building financial inclusion in the country. It has a market capitalisation of around Rs 8,000 crore.