The lender’s business volume shrunk while business prospects for the next quarters remain “highly unpredictable” following the severe second wave of coronavirus, the company said in a notice to stock exchanges.
Its loan assets saw a 8% drop to Rs 62,256 crore at the end of FY21 from Rs 67,571 crore a year back. Total income fell 5.7% at Rs 1815 crore against Rs 1925 crore. Expenses for the quarter was Rs 1641 crore against Rs 2277 crore in the year ago period. Its borrowings fell 12% to Rs 59,942 crore from Rs 68,216 crore in tandem with fall in business volume.
Its gross non-performing assets (NPA) ratio was at 4.44% as against 2.75% for the same period. Net NPA was 2.43% as against 1.75%.
The lender refrained itself from recommending dividend for FY21 to conserve capital.