Ujjivan Financial Services on Friday posted narrowing of consolidated net loss to Rs 181.56 crore for the quarter ended December 31, 2021.
In the year-ago period, net loss was Rs 490.73 crore.
Net loss widened as compared to Rs 68.18 crore posted for the previous September quarter.
Total income during third quarter stood at Rs 732.47 crore, while total expenses were at Rs 975.47 crore.
In the year-ago period, total income was Rs 792.08 crore and expenses were Rs 1,454.71 crore.
The board in a meeting held on October 30, 2021 approved a scheme of amalgamation with its subsidiary –Ujjivan Small Finance Bank.
The amalgamation is subject to approval by the Reserve Bank, Sebi, other regulators, stakeholders as well as National Company Law Tribunal. The company’s main income is from operations of Ujjivan SFB.
The company’s stock closed 0.44 per cent down at Rs 123.20 on BSE.
