The net profit was Rs 103 crore in the year-ago period.
The bank’s operating profit fell 7.6 per cent at Rs 195 crore as against Rs 211 crore over the same period. Provision was 84 per cent higher at 138 crore compared with Rs 75 crore earlier.
“Things are coming back to normalcy. We have seen the highest ever disbursal in this quarter,” managing director PN Vasudevan told ET. The bank disbursed Rs 3145 crore during the period under review.
Its loan book grew 13 per cent to Rs 18,978 crore at the end of September with 81.44 per cent of advances being secured.
The lender has restructured Rs 1400 crore of loans, which forms around 7 per cent of gross advances. It carries a provision of Rs 196 Cr towards the restructured book.
Its gross non-performing assets ratio stood at 4.64 per cent at the end of September as compared with 4.58 per cent three months back. Net NPA was at 2.37 per cent against 2.29 per cent for the same period.
“There was improved collection efficiency leading to a reduction in overdue cases between 1 to 90 days,” Vasudevan said.
