Q1 FY21Q4 FY20Q1 FY20QoQYoY
Revenue774809605-4.3%27%
Net Profits557394-24%-41.4%
Values in Crore Rupees

Though their revenues have increased by 27%, net profits has fallen because of the provisions made by the bank. Due to the increased risk in repayment of loans, provisions has increased by seven times. In June 2019, provisions worth Rs 18 crore was kept but this has increased to Rs 140 crore in this ending quarter.

“Concerted efforts towards business normalcy remained in full force for Q1FY21, reflecting in our improved collection efficiency of 54% for June which further rose to 59% in July,” Ujjivan’s chief executive Nitin Chugh said.

Their net interest income grew by 30% as interest earned in this quarter increased to Rs 746 crore which was Rs 605 crore in the same quarter last year.

The loan disbursement has also decreased massively due to increase in risk. Rs 2,959 crore worth loan was disbursed last year. This number has decreased to mere Rs 474 crore in this quarter. With moratorium imposed on loan and interest repayments, the Gross non-performing assets ratio has increased from 0.8% to just 1%. This number is expected to shoot up when the moratorium on repayments will be removed by the RBI.

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