The revenue stood at Rs 190.4 crore within the fourth quarter final fiscal.
Its working revenue for the quarter stood 27% increased year-on-year at Rs 220 crore agaist Rs 173 crore earlier, buoyed by a 42% rise in different revenue at Rs 245 crore. Its web curiosity revenue rose by a modest 5% at Rs 379 crore.
The Fairfax-backed financial institution’s web curiosity margin fell to three.54% for the three-month interval as in contrast with 4.36% within the 12 months in the past interval.
“I imagine the NIM has bottomed out. There might be one other price reduce by the Reserve Financial institution of India, however NIM is unlikely to go beneath 3.5%,” financial institution managing director and chief executiv officer Pralay Mondal advised ET.
The financial institution’s provision to cowl dangerous loans rose 179% at Rs 57 crore in sync with an increase in gross non-performing property ratio to 1.84% on the finish of June from 1.69% a 12 months again. Internet NPA stood at 0.66% in opposition to 0.68% earlier. It noticed increased slippges within the June quarter at Rs 136 crore in opposition to Rs 103 crore earlier.”Although the elevated prices primarily pushed by expertise implementation and barely increased slippages put some stress on the underside line, we predict higher numbers within the subsequent two quarters,” Mondal stated.Its web advances grew by 31% year-on-year to Rs 24,844 crore whereas whole deposits rose 20% to Rs 35,935 crore.
