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Pre-provision operating profit for the quarter stood 63% lower at Rs 47 crore as compared with Rs 128 crore earlier.
The bank’s gross non-performing assets jumped nearly three-times to Rs 734 crore from Rs 242 crore over the last one year with the ratio rising to 7.16% at the end of March from 2.94% a year back. Net NPA stood higher at 4.58% against 0.86%.
The total provision stood at Rs 93 crore against Rs 48 crore earlier.
At present, about 95% of the bank’s unsecured portfolio is covered under the Credit Guarantee Fund for Micro Units Scheme. Consequently, it made the NPA provision only on the loans that are not guaranteed under the scheme, the bank said in a regulatory filing to stock exchanges.
Otherwise, the provision amount would have been more leading to higher net loss.The bank’s gross advances grew 19% year-on-year to Rs 10251 crore at the end of the last fiscal.
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