SIDBI net profit rose38.4%in9 months of FY21compared withsame period in FY20 - Songoti

SIDBI net profit rose38.4%in9 months of FY21compared withsame period in FY20

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Financial performance highlights forSmall Industries Development Bank of India (SIDBI), the all India financial institution engaged in creating an integrated credit and development support ecosystem for Indian Micro, Small and Medium Enterprises (MSME).

9 months of FY21 vs9 months of FY20

ü  Net profit recorded a tremendous growth of 38.4% to Rs. 2,165 crore from Rs. 1,564 crore.

ü  Operating profit (before provision) recorded a growth of 14.6% which increased to Rs. 3,301 crore from Rs. 2,880 crore.

ü  Networth of the bank increased to Rs. 20,694 crore from Rs. 16,941 crore.

ü  Net Interest Income (NII) grew at 22.3% to Rs. 2,898crorefrom Rs. 2,370 crore.

ü  Net Interest Margin (annualized) increased to 2.27% from 1.94%.

ü  Earnings per share increased to Rs. 40.70 from Rs. 29.41.

ü  Capital Adequacy Ratio (CAR) improved to 29.04% from 24.79%.

ü  Return on Capital Employed increased to 10.45% from 9.08%.

 

Asset Quality

ü  Gross Non-Performing Assets (GNPA)decreasedto Rs. 669 crore (0.47%) from Rs. 1,550 crore (0.97%).

ü  Net NPA (NNPA) reduced to Rs. 114 crore (0.08%) from Rs. 884 crore (0.56%).

ü  Provision Coverage Ratio (PCR) was increased to 96% from 72%.

 


 

Third quarter (October 2020 – December 2020) FY21vsthird quarter (October 2019 – December 2019) FY20

ü  Net profit recorded a growth of9% to Rs. 630crore in Q3FY21 from Rs. 578crore in Q3FY20.

ü  Non-interest income increased by 16.7% to Rs. 154crore in Q3FY21 from Rs. 132crore in Q3FY20.

ü  NII improved by 3% to Rs.840crore in Q3FY21 from Rs.816crore in Q3FY20.

 

 

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Quote of Shri V. Satya Venkata Rao, Deputy Managing Director, SIDBI:

“The credit growth to the MSME sector has been strong despite the impact of the COVID-19 pandemic and this has helped us to achieve encouraging financial performance.”

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