Q1 Results: Ujjivan Financial’s Profit Rises On Higher Disbursements

Ujjivan Financial Services Ltd.’s profit and income rose in the quarter ended June on higher disbursements, according to Managing Director and Chief Executive Officer Ittira Davis.

Ujjivan's net profit increased about 80 percent year-on-year to Rs 83.03 crore in the April-June period, according to its exchange filing. Its net interest income rose 39 percent over the last year to Rs 363 crore.

Davis also said the company is awaiting the Reserve Bank of India’s new guidelines on small finance banks. Its board has approved an initial public offering as a way forward for the firm’s small finance bank arm, he said, adding the company is still exploring other options.

Key Takeaways

• Continue to maintain growth through the year.
• To manage cost-to-income ratio.
• Monitoring slowdown in economy.
• Some stress in accounts due to Odisha floods.

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