Ujjivan Financial in a bright spot

Ujjivan Financial is in a bright spot today morning. The stock has gaining for the last 2 days and has risen 2.82% in the period. Today it hit intraday high of Rs 356.45, rising over 4.5%.

The holding company and promoter of Ujjivan Small Finance Bank did well on the bourses as its asset quality showed improvement. Gross non-performing assets (NPAs) stood at 0.9 per cent, while net NPAs stood at 0.3 per cent during the fiscal ended March 2019 as against 3.6 per cent and 0.7 per cent, respectively, in 2017-18.

For FY19, on the earnings front, consolidated net profit rose to Rs.198.40 crore in 2018-19 as against Rs.7.30 crore in preceding fiscal.

Total income was up by 29% at Rs.2,046 crore during the year ended March 2019.

The company's loan book grew 46% at Rs.11,049 crore, while net loan book stood at Rs.10,552 crore, rising 44%.