Firm and Decisive Government Action Taken To Preserve Value And Assets Of IL& FS Says Ministry Of Finance
Its net profit during the quarter under review rose to Rs 331 crore from Rs 300 crore in the corresponding period of last fiscal.
"Net Interest Income (NII) for the quarter grew by 53.5 per cent at Rs 1,124 crore as against Rs 732 crore in the corresponding quarter of the previous year," the bank said in a statement.
According to the lender, its net NPA (non-performing asset) as on December 31, 2018 stood at to 0.7 per cent as against 0.8 per cent on December 31, 2017.
"Gross NPAs as on 31 December 2018 at 2.4 per cent against 1.3 per cent as on 30 September 2018 and 1.7 per cent as on 31 December, 2017," the statement said.
In addition, the bank, without naming the IL&FS Group, said that it has made provision of Rs 384.95 crore in respect of an exposure "to a borrower from Infrastructure development and finance sector, which was classified as non-performing asset and fully provided for during the quarter".
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