Ujjivan Financial Services reports profit after two quarters

KOLKATA: Ujjivan Financial Services is back in black with Rs 29.3 crore net profit for the December quarter after reporting losses in the preceding two quarters, with credit cost petering off and repayment getting back to pre-demonetisation level.

The net profit was, however, 34 per cent lower than the year ago period of Rs 44 crore.

Ujjivan Financial is the holding firm for Ujjivan Small Finance Bank. Its aggregate loss in the April-September period was Rs 87 crore.


"Business has return to normalcy. We hope to end the year with a reasonably good note," Ujjivan Small Finance Bank Managing Director Samit Ghosh told ET.

Its gross loan portfolio grew 7.7 per cent to Rs 7095 crore. Collection efficiency for loans disbursed after January improved to 99.7 per cent, Ghosh said. This constitutes 78 per cent of the total portfolio.

Its gross nonperforming assets (NPAs) ratio stood at 4.24 per cent as against 4.99 per cent in the preceding quarter.

Ujjivan said that its overall portfolio at risk (PAR) reduced to Rs 384 crore from Rs 445 crore as on September, 2017.