"The Bank has made additional provision of Rs. 749.51 crores as at March 31, 2018. Hence, for the FY 2018-19.and half year ended 30.09.2019 no additional provisioning was required to be made as per the said RBI guidelines," the bank said in a statement.
During the quarter Bank has made additional provision of Rs 1982.41 crore over and above the provisions required to be made in terms of Prudential norms issued by RBI, it added. The Non Performing Loan Provision Coverage Ratio of the Bank was 79.30 per cent for the recently concluded quarter.
The bank's profit before tax (PBT) came in at Rs 632.87 crore, up fro Rs 533.97 crore clocked in the year ago period. The bank, however, logged a net interest income (NII) of Rs 1,275.7 crore, up 10.9 per cent YoY, from Rs 1,150.5 crore.
At 3:00 PM, the stock was trading 7.5 per cent lower at Rs 24.95 apiece, as against a 0.58 per cent decline in the S&P BSE Sensex.