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Q4-FY18 Result update:
Key Earning Highlights:
• Ujjivan Financial Services posted a more than three-fold jump in its consolidated net profit at Rs.64.86 cr for the Q4FY18. The company had posted a net profit of Rs.19.35 cr in the last quarter of 2016-17.
• The total assets of Ujjivan grew to Rs.9, 813.87 cr as on March 31, 2018, from Rs.8, 478.59 cr by the end of March 2017.
• Income during the Q4 rose to Rs.460.90 cr from Rs.340 cr in the same period a year ago. For the full year 2017-18, profit fell multi-fold to Rs.7.28 cr from Rs.207.67 cr in 2016-17 as provisions for bad loans and write-offs rose significantly.
• Deposit base as at Q4FY18 end is at Rs3,772cr as against Rs2,437cr QoQ. Deposits constitute 50% of advances in Q4FY18 against 36% QoQ. CASA came at 3.7% for Q4FY18, a Retail total deposit is at 11.3% as of Q4FY18.
• For the Q4, provisioning and write-offs were increased to Rs.34.71 cr as against Rs.7.17 cr in the same period a year earlier. For the entire 2017-18 fiscal, provisioning and write-offs stood at Rs.310.81 cr as against Rs.75.12 cr in the previous fiscal.
• Loan Book as of Q4FY18 stood at Rs7,560cr, a growth of 6.5% QoQ and 18.5%YoY.
• Gross NPAs stood at 3.6 percent of gross advances at end March 2018 and net NPAs at 0.7 percent. There were prudential write-offs of Rs.177 cr in 2017-18 (covered by provisions) and the provision coverage ratio stood at 81.5 percent.
• The Board of Directors of the Company in its meeting has recommended a dividend at the rate of 5% i.e. Rs. 0.50 per equity share.
Financial result Rs. Cr
• The company management's focus is on building strong retail deposit base and extending the reach of brand Ujjivan in upcoming years.
• The company expects to have 475 banking outlets by March 2019E.
• The management expects MFI portfolio to grow steadily and the non-MFI portfolio to witness rapid growth going ahead.