The bank reported standalone net loss during the quarter stood at Rs 2195.12 crore compared to net profit of Rs 103.84 crore in the previous year quarter.ÿ
Interest income of the bank declined by 7.44 per cent at Rs 5357.24 crore for the quarter ended March 31, 2018 as against Rs 5788.01 crore in the corresponding period last year.
During the January-March quarter, total income dipped moderately by 12.54 per cent to Rs 6,046.00 crore from Rs 6,913.09 crore in the year ago period.
Meanwhile, operating expenses dropped by 5.31 per cent to Rs 5,111.85 crore from Rs 5,398.70 crore in the same period last year.
Operating profit slipped 38.32 per cent to Rs 934.15 crore from Rs. 1,514.39 crore.
Provisions and Contingencies surged by 210.46 per cent at Rs 3,937.30 crore from Rs 1,268.20 crore a year ago.
NII, the difference between interest earned on loans and interest paid on deposits, slipped by 9.79 per cent at Rs 1,678.77 crore versus Rs 1,861.01 crore in the year ago period. Non-interest income dipped 38.78 per cent year-on-year to Rs 688.76 crore.
On the asset side, gross non- performing assets (NPAs)ÿroseÿto 11.53 per cent of the gross advances as at the end of March 31, 2018 from a level of 8.50 per cent year earlier. Its net NPAs or bad loans tooÿincreasedÿto 6.28 per cent of net advances on March 31, 2018 from 5.21 per cent a year ago.