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Bengaluru, July 29, 2016: Ujjivan Financial Services Ltd. [BSE: 539874; NSE: UJJIVAN], one of the leading providers of microfinance in India, today announced their financial performance for the quarter ended June 30, 2016.
Summary of Financial Performance: Net Profit at `71.37 crore; a jump of 102.51% over Q1-FY16 and 29.96% over Q4-FY16 Total Income at `329.32 crore, an increase of 50.46% over Q1-FY16 and 10.52% over Q4-FY16 Cost to Income ratio at 45.60% from 54.27% in Q1-FY16 and 48.77% Q4-FY16 Operating Expense ratio decreased to 7.22% from 7.98% in Q1-FY16 and 7.34% in Q4FY16 EPS at `6.39; RoAA at 4.85% and RoAE at 20.27%
Commenting on the financial performance for the quarter ended June 30, 2016, Mr. Samit Ghosh, Managing Director, Ujjivan Financial Services said: “We have been successful in improving the productivity and reducing the costs continuously. This has helped us in maintaining the growth momentum.” He also mentioned - “Our current focus is on the transition to an SFB. We have started with the implementation of multiple applications including core banking software, Finacle. We have on-boarded all the key senior level people and the hiring of other levels will be completed, soon. Training for the employees at various levels for the transition is in full swing.”
Ms. Sudha Suresh, CFO added, “During the quarter, we maintained our focus on increasing our business in MSE and Housing segments. This has helped to increase the share of Individual Lending to 13.4% from 12.9% in Q4-FY16. We have maintained the weighted average borrowing rates at 11.6% during the quarter. With the further upgrade in credit ratings coupled with strong relations with banks/FIs, we look forward to further reduction in borrowing rates in the coming days”
Operating Highlights Gross Loan Book at `5,850.6 crore; growth of 66.5% over Q1-FY16 and 8.6% over Q4FY16 Managed Portfolio as on June 30, 2017 at `293.39 crore Net Loan Book at `5,557.48 crore, growth of 59.2% over Q1-FY16 and 9.73% over Q4FY16 Disbursement of `1,878.7 crore; an increase of 55.42% over Q1-FY16 2.28 lakh new borrowers added during the quarter; Total borrowers stands at 32.79 lakh NII at `172.05 crore, an increase of 76.93% over Q1-FY16 and 13.26% over Q4-FY16 NIM at 12.96 % in Q1-FY17 increased from 11.59% in Q1-FY16 and 12.65% in Q4-FY16 GNPA at 0.18% and NNPA at 0.04%
About Ujjivan Financial Services Limited: Ujjivan Financial Services, a leading microfinance institution (MFI), started operations in Bengaluru in 2005 and serves over 32.79 lakh active customers through 469 branches and 8,258 employees spread across 209 districts and 24 states in India. Ujjivan’s Gross Loan Book stand at `5850.64 crore with a repayment rate of 99.78% as on June 30, 2016. Ujjivan also runs a robust financial literacy program and community development & disaster relief programs for customers in collaboration with Parinaam Foundation which is a non-profit organization.