By laksh5382 
Ujjivan Small Finance Bank (SFB)’s net profit rose 86.6 per cent to ₹136.49 crore in the quarter ended March 31, 2021, compared to ₹73.15 crore in the same period last fiscal. However, for the full financial year 2020-21, it reported a net profit of ₹8.3 crore compared to ₹349.92 crore in 2019-20.
For the quarter ended March 31, 2021, Ujjivan SFB reported a 21 per cent decline in its net interest income at ₹368 crore, compared to ₹467 crore in the same period a year ago. Net interest margin in the fourth quarter of the last financial year was 7.9 percent, compared to 11.2 percent a year ago. Other income rose 62.5 per cent to ₹117.29 crore in the January to March 2021 quarter, compared to ₹72.16 crore a year ago.
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The bank’s gross non-performing assets increased to ₹1,070.6 crore or 7.07 per cent of gross advances as on March 31, 2021, from 0.97 per cent as on March 31, 2020. Net NPA also increased to 2.93 per cent of net advances in March. 31, 2021 from 0.2 percent a year ago.
₹74 crore written off
It took a write-off of ₹74 crore in the fourth quarter of the last fiscal, while the provision coverage ratio stood at 60 per cent as of March 2021.
“We have continued to make Covid provisions of ₹172 crore which provides relief for credit costs in the coming months. As the business environment has been impacted due to the pandemic, we are taking adequate steps to protect the interests of our employees, customers, investors and all other stakeholders,” said Nitin Chugh, MD and CEO, Ujjivan SFB.