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Q2 Results: Ujjivan Financial Services Posts Net Loss At Rs 68 Crore, Fino Payments Bank reports 74p% Jump In Profit

Total income was down at Rs 731.90 crore in the quarter under review as against Rs 828.47 crore in the year-ago period, Ujjivan said in a regulatory filing.

Q2 Results: Ujjivan Financial Services Posts Net Loss At Rs 68 Crore, Fino Payments Bank reports 74p% Jump In Profit
Q2 Results: Ujjivan Financial Services Posts Net Loss At Rs 68 Crore, Fino Payments Bank reports 74p% Jump In Profit
outlookindia.com
2021-11-14T09:35:50+05:30

Ujjivan Financial Services on Saturday reported a consolidated net loss of Rs 68.18 crore for September quarter 2021-22.

It had posted a net profit of Rs 89.76 crore in the year-ago same period. Sequentially, the net loss narrowed from Rs 99.33 crore in the quarter ended June 2021.

Total income was down at Rs 731.90 crore in the quarter under review as against Rs 828.47 crore in the year-ago period, Ujjivan said in a regulatory filing.

Expenses were higher at Rs 822.73 crore during the quarter. In the year-ago period, expenses stood at Rs 704.95 crore.

Meanwhile, Fino Payments Bank reported a 74 per cent jump in its net profit to Rs 7.89 crore in the quarter ended in September 2021.

The bank had posted a net profit of Rs 4.52 crore in the year ago same period.

Revenue of the bank grew by 35 per cent year-on-year to Rs 242.15 crore on the back of a growth of 32 per cent in transaction revenue, 43 per cent in subscription income and 35 per cent in open banking, Fino Payments Bank said in a regulatory filing.

The bank completed its initial public offer (IPO) and listed its shares on November 12, 2021 on NSE and BSE.

Current account and savings account (CASA) subscription revenue grew by 78.3 per cent on the year while subscription yield increased from Rs 402 per account in Q2FY21 to Rs 481 per account in Q2FY22, it said.

Sterling and Wilson Solar (SWSL) reported a consolidated net loss of Rs 284.35 crore for  September quarter 2021-22.

The company had logged a consolidated net profit of Rs 15.09 crore in the year-ago period, a BSE filing stated.

Total income rose to Rs 1,469.74 crore in the quarter as against to Rs 1,375.94 crore in the same period a year ago.

"Our unexecuted order book as on November 13, 2021 (before adjusting for revenue post 30th September 2021) stands at Rs 6,730 crore. The company’s revenue from operations for H1FY22 (April-September) stood at Rs 2,633 crore," the company said in a statement.

(With PTI Inputs)

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