Blame it on the low base effect but Ujjivan Small Finance Bank posted a very good number for Q1FY23.

On a 56% (YoY) rise in NII at Rs.600 crore, the company’s PAT was a turnaround from a loss of Rs.233 crore to a profit of Rs.203 crore.

Disbursements were up 230% at Rs.4326 crore while Gross Advances were up 38% at Rs.19,409 crore.

The company said it is building up new customer acquisition – 34% loans to new customers vs. 24% in Q4-FY22; acquired 1.9 lakh new customers in Q1-FY23 vs 1.5 lakh in Q4-FY22.

In terms of asset quality, Gross NOA was down significantly from 7.1% to 5.9% while Net NPA came down to 0.1% from 0.6%.

These numbers enthused the markets, which saw the stock rise up among the top five gainers on the BSE; though it opened slightly power at Rs.17.20, once the numbers were out in the afternoon, the stock straight zoomed up to hit the 10% UC at Rs.19.10; its 52-week high is at Rs.29.80.