The September quarter performance of AU Small Finance Bank failed to delight D-Street as share price of the Jaipur-based bank dropped 3.5 percent on October 20.
The bank reported modest operating profitability, said Credit Suisse. The company's expenses grew 51 percent year-on-year to Rs 832 crore from Rs 553 crore. Slippages remain elevated at Rs 262 crore. At 10 am, the stock was quoting at Rs 602.45 per share, down 3.75 percent. Ahead of its results, the stock had run up 7.3 percent in the past four sessions.
"The operating environment in the September quarter saw uncertainty over inflation, liquidity and rates intensifying significantly which continues to be the case. While the domestic outlook is encouraging, the possibility of a lagged impact of these factors on demand and activity levels can't be ignored and we are watchful," Sanjay Agarwal, MD & CEO of AU Small Finance Bank, said.
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