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AU Small Finance Bank share price gains 20% in 2 days after net profit rises two-fold in Q3

Helped by higher income and lower tax outgo, the lender reported 100% rise in its consolidated net profit to Rs 190.19 crore for the quarter ended December 2019, as against Rs 95.33 crore recorded during the same period a year ago.

twitter-logo BusinessToday.In        Last Updated: January 24, 2020  | 17:07 IST
AU Small Finance Bank share price gains 20% in 2 days after net profit rises two-fold in Q3
AU Small Finance Bank share price hit its fresh all-time high today

Share price of AU Small Finance Bank hit its fresh all-time high today after the lender reported a 100% rise in net profit for the quarter ended December 2019.

Extending gains for the second consecutive session, AU Small Finance Bank share price zoomed 12.61% to all-time high of Rs 1,097.7 on BSE. Yesterday, the shares closed 10% higher after climbing 13% intraday to high of Rs 1,007.25 on BSE.

Volume-wise, 2.6 lakh and 41.88 lakh shares traded on NSE and BSE counters, both above 5, 10, the 30-day average volume traded. Market depth data on BSE suggested 82% buyers bidding against 18% sellers offering the stock.

AU Small Finance Bank stock has gained over 22% in one week, 36% in one month and 82% in one year, respectively. AU Small Finance Bank shares trade higher than its 5, 20, 50, 100 and 200-day moving averages.

Helped by higher income and lower tax outgo, the lender reported 100% rise in its consolidated net profit to Rs 190.19 crore for the quarter ended December 2019, as against Rs 95.33 crore recorded during the same period a year ago.

Bank's total income of Q3 FY20 rose to Rs 1,272.83 crore compared to Rs 894.29 crore in Q3 FY19.

Total expenses in the October-December period rose to Rs 959.98 crore from Rs 715.62 crore recorded in the corresponding quarter in of the previous fiscal.

The lender's net interest income rose 46% YoY at Rs 507 crore. Bank's loan AUM grew 37% YoY to Rs 29,867 cr, while segment of retail AUM rose to 81% as compared to 77% on a yearly basis.

During Q3, the company acquired nearly 1.4 lakh new customers, taking overall customer base to 160 lakh.

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