InvestorQ : What were the key highlights of the Equitas SFB quarterly results for September 2022?
Arti Chavan made post

What were the key highlights of the Equitas SFB quarterly results for September 2022?

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Rutuja Nigam answered.
4 weeks ago
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For the September 2022 quarter, Equitas SFB reported 15.24% growth in revenues at Rs1,147.39 crore on a yoy basis. During the quarter, the bank saw growth across treasury revenues and retail banking revenues while there was a slowdown in revenues from wholesale banking yoy basis. Gross advances were up 20% yoy at Rs22,779 crore with quarterly disbursements up 22%. The CASA deposits grew 28% to Rs10,456 crore while the CASA ratio is now 48% of total deposits. The interest spread is very favourable with the yields on advances stable at 17.1% while cost of funds steadied at 6.25%.

Equitas SFB

Rs in Crore

Sep-22

Sep-21

YOY

Jun-22

QOQ

Total Income (Rs cr)

₹ 1,147.39

₹ 995.69

15.24%

₹ 1,073.62

6.87%

Net Profit (Rs cr)

₹ 116.42

₹ 41.19

182.64%

₹ 97.01

20.01%

Diluted EPS (Rs)

₹ 0.92

₹ 0.36

₹ 0.77

Net Margins

10.15%

4.14%

9.04%

Net profits for Q2FY23 quarter were up 183% at Rs116.42 crore. Gross NPAs fell from 3.95% to 3.82% while provision coverage ratio (PCR) improved to 50%. Capital adequacy ratio at 23.08% and tier 1 capital at 22.55% are extremely comfortable. The net interest income (NII) was up by 26% yoy at Rs610 crore while the net interest margins (NIMs) at 9%.

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