The bank reported standalone net profit during the quarter stood at Rs 118.33 crore compared to a net loss of Rs 1522.24 crore in the previous year quarter. Interest income of the bank rose by 0.40 per cent at Rs 5714.44 crore for the quarter ended June 30, 2019, as against Rs 5691.87 crore in the corresponding period last year. During the April-June quarter, total income rose moderately by 9.97 per cent to Rs 6,493.55 crore from Rs 5,904.82 crore in the year-ago period. Meanwhile, operating expenses dropped by 2.40 per cent to Rs 5,388.72 crore from Rs 5,521.21 crore in the same period last year. Operating profit surged 188.01 per cent to Rs 1,104.83 crore from Rs. 383.61 crore. Provisions and Contingencies slipped by 62.62 per cent at Rs 1,034.78 crore from Rs 2,768.22 crore a year ago.
NII, the difference between interest earned on loans and interest paid on deposits, increased by 6.67 per cent at Rs 1,790.19 crore versus Rs 1,678.18 crore in the year-ago period. Non-interest income rose 265.87 per cent year-on-year to Rs 779.11 crore. On the asset side, gross non- performing assets (NPAs) fell to 19.93 per cent of the gross advances as at the end of June 30, 2019, from a level of 22.17 per cent year earlier. Its net NPAs or bad loans too declined to 7.98 per cent of net advances on June 30, 2019, from 10.58 per cent a year ago.
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