Gross NPA was at 2.23%, compared to 2.39% in Q2FY21 and 2.86% in Q3FY20. Equitas Small Finance Bank has reported a profit after tax (PAT) of Rs 111 crore for the third quarter of FY21, compared with Rs 94 crore in the corresponding quarter of last fiscal, registering a growth of 18%. Total income stood at Rs 1,003 crore, against Rs 762 crore, a growth of 32%.
Net interest income was at Rs 484 crore as against Rs 384 crore, marking a growth of 26% YoY. The net interest margin (NIM) stood at 8.47%.
The bank in a statement said Covid-related provisions as on December 31, 2020 stood at Rs 57.01 crore after adjusting Rs 113.62 crore against actual provisioning requirements for slippages in respect of specific loan accounts.
In accordance with the resolution framework for Covid announced by the RBI, the bank has approved, for certain eligible borrowers, one-time restructuring of 1.97% of advances, it said.
Gross NPA was at 2.23%, compared to 2.39% in Q2FY21 and 2.86% in Q3FY20. The net NPA stood at 0.65% in Q3FY21, against 1% in Q2FY21 and 1.73% in Q3FY20.
Advances as of Q3FY21 was atRs 17,373 crore, a growth of 19% YoY. Disbursement was at 80% of pre-Covid level — the bank disbursed Rs 2,461crore in Q3FY21.
Around 79.21% of the advances was secured loans and microfinance loans constitute 20% with no exposure in Assam and West Bengal.
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