The small finance bank had reported a profit after tax of Rs 94 crore in the same quarter of the previous fiscal.
“We had a 26 per cent growth in our NII (net interest income) and our cost to income ratio has come down 56 per cent from 66 per cent last year.” These both helped in improving the top line and reducing the expense line,” the lender’s Managing Director and CEO P N Vasudevan said.
Net interest income stood at Rs 484 crore as against Rs 384 crore in the year-ago period. Net interest margin (NIM) was at 8.47 per cent.
Gross NPA ratio stood at 2.23 per cent as compared to 2.86 per cent. Net NPAs stood at 0.65 per cent as against 1.73 per cent.
The bank, in a release, said it has not classified any non-performing assets (NPAs) since August 31, 2020 on the basis of an interim order of the Supreme Court.
If the bank had classified borrower’s accounts as NPA after August 31, 2020, GNPA ratio and net NPA ratio would have been 4.16 per cent and 1.71 per cent respectively, it said.
Pending the decision of the court, in respect of these accounts, it made a contingent provision (including on interest accrued) of Rs 180.28 crore, the release said.
The one-time restructuring book stands at Rs 340 crore.
Its advances grew 19 per cent to Rs 17,373 crore. The bank said 79.21 per cent of its advances is secured loans. Microfinance loans constitute 20 per cent, with no exposure in Assam and West Bengal.
Its collection and billing efficiency for the month of December 2020 stood at 105.36 per cent and 88.73 per cent, respectively.
The bank’s scrip closed at Rs 39.90 apiece, up 1.66 per cent, on BSE.
