Equitas Small Finance Bank Q1 results: Net profit flat at Rs 60 cr

Equitas Small Finance Bank Q1 results: Net profit flat at Rs 60 cr

MUMBAI: Runt finance lender Equitas Runt Finance Bank on Monday reported a profit after tax of Rs 60 crore for the quarter ended June.

It had reported a collect profit of Rs 59 crore within the identical quarter of the outdated fiscal.

At some point of the quarter, it made provisions of Rs 68.34 crore, including provision of Rs 45 crore for skill impact of COVID-19. This used to be as well to Rs 99.63 crore COVID-19 provision created in closing quarter, a liberate acknowledged.

Glean hobby profits for the quarter stood at Rs 404 crore as in opposition to Rs 337 crore earlier. Glean hobby margin (NIM) stood at 8.63 per cent.

Heinous NPA stood at 2.68 per cent as when in contrast to 2.73 per cent, while collect NPAs had been at 1.39 per cent as in opposition to 1.54 per cent.

As of June 30, 2020, total capital to threat-weighted resources ratio (CRAR) used to be at 21.59 per cent and tier-I CRAR at 20.61 per cent.

Advances grew 27 per cent to Rs 15,573 crore and deposits apart from CD grew 30 per cent to Rs 11,471 crore.

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