Financial Performance for the Quarter and Half year ended 30 th September 2023
Q2FY23Q2FY24
70.2779.99
52.6659.77
PBT & PAT (₹ in Cr)
PBT
PAT
Q2FY23Q2FY24
2.38
3.13
Return on Assets %
Q2FY23Q2FY24
3.12
2.41
Interest Spread % (Earning Portfolio)
Q2FY23Q2FY24
7,528
7,175
Loan Assets (₹ in Cr)
Q2FY23Q2FY24
578
720
234275
Gross & Net NPAs (₹ in Cr)
Gross NPANet NPA
Q2FY23Q2FY24
59.51
61.86
Provision Coverage Ratio %
Q2FY24 – Key Performance Variables
Highlights-H1/Q2FY24
Profit after Tax (PAT) increased to ₹ 59.77 crore for Q2FY24 against ₹ 36.76 crore for Q1FY24 and ₹
52.66 crore for Q2FY23
NIM improved to 4.40% for H1FY24 compared to 4.28% a year ago
Capital Adequacy ratio stood at 38.58% hereby providing strong cushion for growth and
expansion.
Return on Asset improved to 3.13% for Q2FY24 and 2.57% for H1FY24 compared to 2.35% in
H1FY23
11
We are pleased to unveil the impressive financial results achieved during the first half of the fiscal
year 2024, solidifying our commitment to consistent performance. Overcoming the various
challenges encountered, our Company has undertaken a strategic overhaul, reinforcing our
operational infrastructure with a seasoned and proficient leadership team. Our strategic moves has
positioned us to embark on an upward trajectory, gearing ourselves for sustained growth in the
foreseeable future. Our current focus remains dedicated to enhancing the overall quality of our
portfolio, with a keen emphasis on resolving lingering stress assets.
Our concerted effort underscores our unwavering dedication to fortify the foundation of our
business, ensuring the optimal management of risks and bolstering the resilience of our
operations. In parallel, we are actively engaging in the strategic alignment of fresh credit lines,
aiming facilitation for systematic expansion with sustainable growth to sunshine sectors, to continue
to deliver enduring value to all our stakeholders. ”
Total Income for Q2FY24 stood at ₹ 201.81 crore as compared to ₹ 195.84 crore in Q2FY23
Profit before Tax (PBT) and Profit after Tax (PAT) for Q2FY24 increased to ₹ 79.99 crore and ₹ 59.77
crore compared to ₹ 70.27 crore and ₹ 52.66 crore in Q2FY23 respectively
Yield on Earning Portfolio improved to 10.89% in Q2FY24 compared to 10.58% in Q2FY23
Debt Equity Ratio improved to 1.94 times in Q2FY24 compared to 2.38 times in Q2FY23 thereby
providing cushion to further leverage with growth
Net Interest Margin (NIM) (Earning Portfolio) increased to 4.46% in Q2FY24 compared to 4.34% in
Q2FY23
Spread (Earning Portfolio) for Q2FY24 stood at 2.41% compared to 3.12% in Q2FY23
Cost of borrowed funds has increased to 8.48% in Q2FY24 compared to 7.46% in Q2FY23 in line with
market trend
Total Income for Q2FY24 stood at ₹ 201.81 crore compared to ₹ 193.23 crore in Q1FY24
Profit before Tax (PBT) and Profit after Tax (PAT) for Q2FY24 increased to ₹ 79.99 crore and ₹ 59.77
crore compared to ₹ 49.24 crore and ₹ 36.76 crore in Q1FY24 respectively
Yield on Earning Portfolio improved to 10.89% in Q2FY24 compared to 10.77% in Q1FY24
Debt Equity Ratio improved to 1.94 times in Q2FY24 compared to 2.05 times Q1FY24 thereby
providing cushion to further leverage with growth
Net Interest Margin (NIM) (Earning Portfolio) increased to 4.46% in Q1FY24 compared to 4.33% in
Q1FY24
Spread (Earning Portfolio) for Q2FY24 stood at 2.41% compared to 2.42% in Q1FY24
Cost of borrowed funds have been increased to 8.48% in Q2FY24 compared to 8.35% in Q1FY24 in
line with market trend
Net Interest Income (NII) for Q2FY24 stood at ₹ 81.46 crore compared to ₹ 80.04 crore in Q1FY24
Q2FY24 VS Q2FY23
Q2FY24 VS Q1FY24
Management Commentary
11
Total Income for H1FY24 stood at ₹ 395.04 crore compared to ₹ 403.05 crore in H1FY23
Profit before Tax (PBT) and Profit after Tax (PAT) for H1FY24 stood at ₹ 129.23 crore and ₹ 96.53
crore compared to ₹ 137.94 crore and ₹ 103.22 crore in H1FY23 respectively
Yield on Earning Portfolio improved to 10.83% in H1FY24 compared to 10.54% in H1FY23
Debt Equity Ratio improved to 1.94 times in H1FY24 compared to 2.38 times H1FY23 thereby
providing cushion to further leverage with growth
Net Interest Margin (NIM) (Earning Portfolio) increased to 4.40% in H1FY24 compared to 4.28% in
H1FY23
Spread (Earning Portfolio) for H1FY24 stood at 2.42% compared to 3.05% in H1FY23
Cost of borrowed funds have been increased to 8.41% in H1FY24 compared to 7.49% in H1FY23 in
line with market trend
Net Interest Income (NII) for H1FY24 stood at ₹ 161.50 crore compared to ₹ 170.02 crore in H1FY23
The total outstanding credit i.e. aggregate of loan assets and non-fund based commitments
against sanctioned loans, stood at ₹ 7,175 crores as on 30th September, 2023
Capital Adequacy Ratio as on 30th September, 2023 stood at 38.58%
