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The bank reported standalone net profit of Rs 75.34 crore for the quarter ended March 31, 2021 as compared to Rs 114.36 crore in the same period last year, registering a year-on-yearĸdeclineĸof 34.12 per cent. Interest income of the bank declined by 12.94 per cent at Rs 1922.40 crore for the quarter ended March 31, 2021 as against Rs 2208.23 crore in the corresponding period last year.

During the January-March quarter, total income dipped marginally by 3.62 per cent to Rs 2,610.83 crore from Rs 2,708.77 crore in the year ago period. Meanwhile, operating expenses dropped by 10.78 per cent to Rs 1,734.30 crore from Rs 1,943.93 crore in the same period last year.

Operating profit surged 14.60 per cent to Rs 876.53 crore from Rs. 764.84 crore. Provisions and Contingencies surged by 24.78 per cent at Rs 766.25 crore from Rs 614.08 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, slipped by 11.26 per cent at Rs 906.04 crore versus Rs 1,020.98 crore in the year ago period.

Non-interest income rose 37.54 per cent year-on-year to Rs 688.43 crore. On the asset side, gross non- performing assets (NPAs)ĸroseĸto 4.34 per cent of the gross advances as at the end of March 31, 2021 from a level of 3.62 per cent year earlier. Its net NPAs or bad loans tooĸincreasedĸto 2.12 per cent of net advances on March 31, 2021 from 2.05 per cent a year ago.