For June quarter of FY21, the bank reported a 64.37 per cent year-on-year (YoY) decline in consolidated net profit at Rs 510.34 crore, as against a net profit of Rs 1,432.50 crore in the corresponding quarter last year. Its net interest income (NII) for the quarter increased by 16 per cent YoY to Rs 3,309 crore, while Net interest margin improved to 4.28 per cent from 4.25 per cent for Q4FY20.
"Total provisions for Q1FY21 was at Rs 2,259 crore from Rs 431 crore a year ago. In the preceding quarter, Rs 2,440 crore was kept aside as provisions. As on June 30, the bank held Covid provisions of Rs 1,203 crore, including provision made during the quarter of Rs 920 crore," the bank said in a statement.
At 2:08 pm, the stock was quoting at Rs 610, up 7.4 per cent on the BSE, as against 0.35 per cent gain in the S&P BSE Sensex. A combined 41.42 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report.