AU Small Finance Bank reports Q4 PAT of ₹425 cr up by 23%, declares dividend
AU Small Finance Bank surpassed the street’s expectations in terms of bottom-line performance for the quarter ending March 31, 2022 (Q4FY23) period. The SFB garnered 22.7% growth in net profit to ₹424.6 crore in Q4FY23 compared to ₹346.07 crore in the same quarter last year. The bank posted healthy growth in interest income, while provisions dipped sharply year-on-year and asset quality improved further.
However, Q4 PAT witnessed a single-digit growth of 8.09% from a profit of ₹392.82 crore in the December 2022 quarter.
Net interest income (NII) which is the difference between interest earned and expended, came in at ₹1,213.20 crore in Q4FY23, increasing by 29.54% from ₹936.56 crore in Q4 of the previous fiscal. The growth stood at 5.24% from NII of ₹1,152.73 crore in Q3FY23.
Further, in the quarter under review, provisions and contingencies dipped to ₹40.88 crore as against ₹93.22 crore in Q4FY22 but were slightly higher from provisions of ₹32.64 crore in Q3FY23.
In terms of asset quality, the bank’s gross NPA declined to 1.66% in Q4FY23 versus 1.98% in Q4FY22 and 1.81% in Q3FY23. Net NPA dived to 0.42% compared to 0.50% in Q4FY22 and 0.51% in Q3FY23.
AU Small has recommended a dividend of Re 1 each having a face value of ₹10 each fully paid-up (i.e. 10% of face value) out of net profit for the financial year ended March 31, 2023.
The dividend on equity shares is subject to the approval of shareholders at the ensuing Annual General Meeting (AGM) of the Bank.
On Tuesday, AU Small’s share price closed at ₹660.15 apiece down by 0.6% on BSE. Its market cap stood over ₹44,015 crore.
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