The pre-provision operating profit stood about 30% higher at Rs 403 crore against Rs 311 crore earlier. Provisions were at 124 crore against Rs 258 crore in the year ago period.
The annual net profit was at Rs 103 crore, 30% lower than the preceding fiscal’s Rs 147 crore.
The bank’s quarterly net interest margin improved to 7.29%, about 57 basis points more than what it was in the preceding quarter.
Equitas grew its gross advances by 22% year-on-year to Rs 46165 crore at the end of March, led by a 21% expansion of non-microfinance portfolio, which contributed 88% to the total. Its microfinance book also grew sequentially and year-on-year to Rs 5756 crore.
The bank’s gross non-performing assets ratio reduced by 13 basis points sequentially to 2.49% at the end of March while the net NPA ratio stood at 0.68% against 0.88% for the same period. Credit Cost declined to 1.11% in the fourth quarter as compared with 1.88% three months prior and 2.74% a year back.
The bank’s deposit growth lagged significantly at 8% year-on-year to Rs 46,533 crore.
ESAF Small Finance Bank posts Rs 23 crore profit in Q4
ESAF Small Finance Bank earned a net profit of Rs 23.5 core in the fourth quarter of the fiscal as against a net loss of 183 crore in the year ago period. Its third quarter net profit stood at Rs 7 crore.
The Kerala-headquartered lender’s quarterly operating profit stood at Rs 241 crore as compared with Rs 91 crore in the year ago period.
The bank however managed to reduce its annual net loss at Rs 166 crore as compared with a net loss of Rs 521 crore in the preceding fiscal. Its net worth stood at Rs 1780 crore.
Its gross non-performing ratio stood at 5.4% at the end of March, coming down from 5.6% seen three months prior. The bad loan ratio was 6.9% a year back.
Its gross advances grew by 19.4% year-on-year to Rs 22426 crore while deposits grew 11% to Rs 25850 crore.