Equitas Small Finance Bank Ltd.'s net profit for the quarter ending Sept. 30, increased multifold to Rs 218 crore from Rs 24 crore in the year-ago period, according to an exchange filing from the company on Thursday. The net interest income was up 33% to Rs 1,026 crore from the preceding fiscal's Rs 773 crore. The company's operating profit was at Rs 402 crore, from the previous financial year's Rs 241 crore.
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The gross non-performing assets contracted to Rs 2.29% from 2.42% on a quarter-on-quarter (QoQ) basis. The net non-performing assets contracted to 0.70% fro 0.71 QoQ. The provisions were at Rs 115 crore, from the previous quarter's Rs 161 crore. The provisions in the previous fiscal were Rs 207 crore.
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Equitas SFB Q2 Results Highlights (YoY)
- Net Profit At Rs 218 crore Vs Rs 24 crore
- NII Up 32.7% At Rs 1,026 crore Vs Rs 773 crore
- Operating Profit At Rs 402 crore Vs Rs 241 crore
- Gross NPA At 2.29% Vs 2.42% QoQ
- Net NPA At 0.70% Vs 0.71% QoQ
- Provisions At Rs 115 crore Vs Rs 161 crore QoQ; Rs 207 crore YoY
The firm incurred a tax expense At Rs 69.3 crore from Rs 9.4 crore on a year-on-year basis. It re-appointed Anil Sharma as part-time Chairman for three years.
Equitas Small Finance Bank Share Price Movement
Equitas Small Finance Bank Ltd., saw a 19.99% downturn to sette at Rs 57.17 at the end of the day's trade, compared to a 1.05% uptick of the NSE Nifty 50.
The stock opened at Rs 66.00, compared to its previous close of ₹65.13. During today's trading session, Equitas Small Finance Bank Ltd. share price moved in the range of Rs 52.11 to Rs 69.70.
Looking at its last 52-week performance, the stock has touched a low of Rs 51.25 and a high of Rs 83.90. On the performance front, Equitas Small Finance Bank Ltd. share price is down 4.91% on a year-on-year basis.
The market capitalization of Equitas Small Finance Bank Ltd. is Rs 64,17.62 crpre, with a P/E ratio of 20.90.
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