Equitas posted net profit of Rs. 35.4 Cr in Q1-FY19, advances grew by 27% YoY

Mohan | Myequity news | Date: 28-07-2018 23:45:00 IST

Equitas Holdings Limited [EHL] announced the Un-Audited results for quarter ended June 30, 2018. Below are the highlights.

Advances grew by 27%

Equitas posted advances growth of 27% YoY, with overall advances increasing to Rs. 8,926 Cr. Strong growth was registered in all lending segments of Inclusive Banking, Vehicle Finance, Business Loans and mid-Corporate loans. Micro Finance advances grew by 6% over March ’18 but a drop of 18% over same quarter last year while non-micro finance advances grew by a healthy 60%. The non-micro finance portfolio now forms about 73% of the total portfolio.

Customer Deposits increased more than Rs. 1,000 Cr during Q1, CASA stood at Rs. 1,834 Cr

Customer Deposits stood at Rs. 5,719 Cr, with CASA at 32% of this. Customer deposits now make-up half of overall borrowings. The bank continues its focus on customer acquisition, with deposit account holders crossing 3.3 lakh in number. Fee Income continues to show strong growth.

Asset quality remained stable, GNPA at 2.84%

GNPA remained almost flat at 2.84%, against 2.72% of previous quarter and improved significantly over 4.91% of same quarter of previous year. Bank’s Provision cover stood at 47% and Net NPA stood at 1.5%.

PAT of Rs. 35.4 Cr for Q1 FY19

Equitas reported a Rs. 35.4 Cr profit after tax for the quarter, against Rs. 15.6 Cr in in the same quarter of previous year. Quarterly RoA (annualised) stood at 1.00%, against 0.66% in Q1FY18.
NII for Q1FY19 stood at Rs. 254 Cr, up 18% YoY. Net Income stood at Rs. 316 Cr, growing 7% YoY, but the number is not comparable due to change in accounting policy on PSLC income. Pre-Provision Operating Profit [PPOP] for Q1 increased by 10% YoY.

About Equitas Holdings Limited [EHL]

Equitas Holdings Limited (‘the Company’) is a Non-Deposit Taking Systemically Important - Core Investment Company – (CIC-ND-SI) registered with The Reserve Bank of India. The activity of the Company is making investment in subsidiary companies and providing loans to them. It has no other operations.

The Company has the following Wholly Owned Subsidiaries:

• Equitas Small Finance Bank Limited, licensed under Section 22 of the Banking Regulations Act, 1949 to carry on the business of small finance bank.
• Equitas Technologies Private Limited [ETPL], a Company registered under the Companies Act, 2013 engaged in the business of freight aggregation.

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