The assets quality of the company also improved on sequentially with gross non-performing assets (NPA) declined to 3.6% from 4.2% in previous quarter. Net NPA declined to 0.7% in Q4FY18 from 1% in Q3FY18.
Net interest income jumped 64% year on year to Rs 2.1 billion in Q4FY18, while net interest margin stood at 11.6% in Q4FY18, an increase from 8.6% in Q4FY17.
“This quarter we have clocked the highest ever quarterly disbursement of Rs 22.62 billion and closed the year with an overall portfolio of Rs 75.60 billion. Cost of funds has significantly reduced from 10.4% in FY17 to 9.0% in FY18 as we repaid a significant portion of high cost legacy borrowings by raising deposits at competitive prices,” said Sudha Suresh, MD & CEO, Ujjivan Financial Services.
As on March 2018, we have rolled-out 187 full service banking outlets spread across 20 states including 47 banking outlets in URCs to expand our reach to unserved and under-served in the rural areas. We are expanding our product portfolio to suit the banking needs of retail customers, supported by an extensive marketing outreach for the bank. In all, we have built a strong foundation to take on the next phase of growth in the coming years, she added.
At 09:19 am; the stock was trading 4% higher at Rs 420, as compared to 0.38% rise in the S&P BSE Sensex. A combined 926,832 shares changed hands on the counter on the BSE and NSE so far.