Income remained almost flat at Rs 2,122.05 crore in the quarter against Rs 2,110.11 crore in the same period of last year.
The provisioning for bad loans increased to Rs 738.36 crore for the quarter as against Rs 464.51 crore in the same quarter of the previous fiscal, according to a regulatory filing by the bank.
For the full 2017-18 fiscal, the bank reported a loss of Rs 743.80 crore against a net profit of Rs 201.08 crore in the fiscal ended March 2017.
Income for the year fell to Rs 8,529.95 crore from Rs 8,750.97 crore a year ago.
The NPA provisioning increased to Rs 1,722.43 crore from Rs 1,106.33 crore in the year ago fiscal.
The bank said the board of directors at its meeting held today has not recommended any dividend for the financial year 2017-18.
Bank's gross non-performing assets (NPAs) or bad loans surged to 11.19 per cent of the gross loans as on March 31, 2018 from 10.45 per cent as on March 31, 2017. In value terms, gross NPAs stood at Rs 7,801.65 crore against Rs 6,297.59 crore.
Net NPAs were down at 6.93 per cent (Rs 4,607.87 crore) from 7.51 per cent (Rs 4,375.08 crore).
The lender said it was required to make additional provisions in case of six borrowal accounts covered under the Insolvency and Bankruptcy Code (IBC).
"Similarly... in respect of five borrowal accounts covered under the process of Insolvency and Bankruptcy Code (IBC), the Bank was required to make additional provision," it added.
It further said that even as the provisioning requirement in respect of NCLT account has been reduced from 50 per cent of secured portion to 40 per cent of secured portion as on March 31,2018, the bank has however not exercised the option of dispensation available in respect of old accounts in which provision of 50 per cent was already held by bank upto Dec 2017 quarter.
The Bank has availed the option of provisioning requirement in respect of 2 NCL T accounts admitted during the quarter ending March 2018 by providing 40 per cent provision in said accounts, it said.
Also, in view of fraud reported during the year in certain banks in respect of one gems and jewellery borrower, the Bank has classified the account as NPAs and provided fully, it added.
On divergence in asset classification and provisioning for NPAs as per Risk Assessment Report of RBI, the bank has shown a gap of Rs 542.70 crore in gross NPAs and Rs 217.50 crore in net NPAs for 2016-17.
Taking into account the Rs 217.50 crore divergence in provisioning for NPAs, the adjusted net profit for fiscal ended March 2017 has come down to Rs 58.85 crore.
The bank had earlier reported net profit of Rs 201.08 crore for that year.
The provision coverage ratio and liquidity coverage ratio as at 31 March 2018 works out to 54.31 per cent and 102.87 per cent respectively, the bank said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)