(Satya Havilah, Intern Journalist) New Delhi: Said on Friday that its cumulative net profit in the second quarter of the financial year 2020-21, which ended on September 30, more than doubled to Rs 543.47 crore. The bank had reported a net profit of Rs 257.31 crore in the same period of the last financial year. The public sector bank told the stock market that its total income increased to Rs 12,477.79 crore during July-September 2020 from Rs 12,062.55 crore in the same period last year.
The bank reported that its net profit on a single basis increased to Rs 525.78 crore, from Rs 266.37 crore in the year-ago period. The bank’s total non-performing assets (NPAs) as of September 30, 2020, were 13.79 percent of total loans. The figure was 16.31 percent in the year-ago period.
Bank shares rose 3percent
The net NPA of the bank declined to 2.89 percent during this period from 5.87 percent a year ago. However, during this period, the bank had to make more provision for stranded loans. This quarter stood at Rs 2133.87 crore as against Rs 1452.09 crore for stranded loans in the same quarter a year ago. The bank made a provision of Rs 2312.29 crore for provisions and emergencies in the last quarter. The bank’s stock was trading at Rs 41.10, up 3.01 percent on the BSE on Friday.
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