Read more about Central Bank Q3 net up 6.45% at Rs 165 cr on better net interest and margin on Business Standard. Other income down 38% to Rs 774 crore; provisions & contingencies decline to Rs 7,437 crore from Rs 12,492 crore
PFS announces Financial Performance for the Quarter / 9 Months ended 31st December 2020
Posted On: 2021-02-04 20:58:27 (Time Zone: Arizona, USA)
PTC India Financial Services Limited (PFS), a subsidiary of PTC India Limited has announced the financial performance for the quarter and 9 months period ended 31st December 2020.
- PFS now moved to growth phase from consolidation with new businesses (disbursements) of Rs. 882 crore during Q3FY21.
- New loans of Rs. 1,419 crore sanctioned during Q3FY21. Post Q3FY21. PFS further sanctioned loans of around Rs. 1,000 crore for projects related to E-Mobility sector for supply of electric buses, water distribution and decentralized solar generation.
The country’s largest lender, State Bank of India, saw its net profit fall by 6.93 per cent to Rs 5,196 crore in the December quarter of financial year 2020-21 (Q3FY21) from Rs 5,583 crore in the corresponding quarter last year. The dip was a result of a surge in interest income in Q3FY20 because of a one-time recovery in Essar Steel account of Rs 4,039 crore. Its asset quality profile improved even if one accounts for the impact when the Supreme Court vacates the interim stay on recognising non-performing assets (NPAs). The pro-forma gross NPAs were 5.44 per cent in Q3, compared with 5.88 per cent in Q2, and 6.94 per cent a year ago. Net NPAs were 1.82 per cent in Q3, against 2.08 per cent in Q2, and 2.65 a year ago.
Ujjivan SFB reports net loss of ₹279 cr in Q3
February 03, 2021
Nitin Chugh, Managing Director, Ujjivan Small Finance Bank×
Ujjivan Small Finance Bank reported a net loss of ₹278.83 crore in the third quarter of the fiscal year against a net profit of ₹89.66 crore.
For the quarter ended December 31, 2020, net interest income rose marginally by 1.3 per cent to ₹432.28 crore against ₹426.53 crore in the same period last fiscal.
Net Interest Margin was down at 9.7 per cent in the October to December 2020 quarter compared to 10.9 per cent in the corresponding period last fiscal.
Other income increased by 34.1 per cent to ₹100.43 crore in the third quarter of the fiscal.
Total income during the quarter improved by 0.7% year-on-year (YoY) to Rs 4711.72 crore.
Net Interest Income (NII) grew by 14% YoY to Rs 1,744 crore, up from Rs. 1,534 crore in Q3 FY20. Despite the COVID-19 pandemic impact, the sequential quarter-on-quarter (QoQ) NII grew by 5%. The NII for the quarter takes into account provision for interest reversal on proforma NPA cases at 31 December 2020.
Net Interest Margin (NIM) rose to 4.65%in Q3 FY21 from 3.86% in Q3 FY20 and 4.57% in Q2 FY21.
The bank s operating profit declined by 3% to Rs 660.94 crore in Q3 December 2020 from Rs 681.70 crore in Q3 December 2019.
The provision for Q3 FY21 was at Rs 595 crore as compared to Rs 2,305 crore for Q3 FY20 and as compared to Rs 676 crore in Q2 FY21. This includes additional COVID provisions of Rs 390 crore during Q3 FY21.