The bank reported standalone net loss during the quarter stood at Rs 600.08 crore compared to net profit of Rs 964.70 crore in the previous year quarter.ÿ
Interest income of the bank rose by 2.14 per cent at Rs 7386.28 crore for the quarter ended September 30, 2019 as against Rs 7231.23 crore in the corresponding period last year.
During the July-September quarter, total income dipped marginally by 4.28 per cent to Rs 8,332.21 crore from Rs 8,704.68 crore in the year ago period.
Meanwhile, operating expenses increased by 8.45 per cent to Rs 6,873.77 crore from Rs 6,338.24 crore in the same period last year.
Operating profit slipped 38.37 per cent to Rs 1,458.44 crore from Rs. 2,366.44 crore.
Provisions and Contingencies surged by 42.16 per cent at Rs 1,336.25 crore from Rs 939.98 crore a year ago.
NII, the difference between interest earned on loans and interest paid on deposits, slipped by 9.58 per cent at Rs 2,185.91 crore versus Rs 2,417.55 crore in the year ago period. Non-interest income dipped 35.80 per cent year-on-year to Rs 945.93 crore.
On the asset side, gross non- performing assets (NPAs)ÿfellÿto 0.07 per cent of the gross advances as at the end of September 30, 2019 from a level of 1.60 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 0.04 per cent of net advances on September 30, 2019 from 0.84 per cent a year ago.