AU Small Finance Bank reported a 30% rise in net profit at Rs 1,153 crore in the October-December quarter of FY 2023 and a 41% increase in net interest income in the October-December quarter of FY 2022. Net interest margin (NIM) for the previous quarter stood at 6.2%. Total revenue grew 36% YoY to Rs 2,413 crore in the October-December quarter of FY23.
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Operating expenses were up 40% YoY in the previous quarter to Rs 892 crore. Pre-provision profit in the October-December quarter of FY23 was Rs 556 crore, up 21% from Rs 458 crore in the October-December quarter of FY22. Provisions declined by 42% YoY to Rs 33 crore.
Profit before tax stood at Rs 523 crore in the October-December quarter of FY23, up by 30% from Rs 402 crore in the October-December quarter of FY22.
Quarterly, the deposit grew by 5% to Rs 61,101 crore, while gross advances rose by 7% to Rs 56,335 crore. The average cost of funds for the October-December quarter of FY23 was 6%.
On December 31, 2022, CRAR was 22%, and Tier I was 20%. Including interim profits, CRAR was at 24.2% and Tier 1 at 22.2%.
This bank is a scheduled commercial bank with Fortune India 500 Company and the largest Small Finance Bank in India.
The scrip shed 0.7% on BSE to currently trade at Rs 617.10.
