This is the bank’s second consecutive quarterly loss after Rs 47.7 crore loss in the June quarter.
Its operating profit rose 62% at Rs 82.8 crore against Rs 51.1 crore over the same period. Its net interest income at 147 crore reflects a 34% rise, primarily on account of rise in gross advances over the period and lower cost of funds, the bank said in a regulatory filing to stock exchanges.
But a 6.6-fold higher provisions to cover bad loans and others led to the loss.
Its asset quality deteriorated with gross non-performing assets ratio rising to 10.2% at the end of September compared with 9.5% at the end of June. Net NPA remained flat 4.5%. Provision coverage ratio stood a tad higher at 71.2%.
The bank restructured loans to the tune of Rs 794 crore, which was 17.7% of gross loans, which grew 21% year-on-year to Rs 4470 crore.
