Impairment on financial instruments increased by 206.1% yoy to Rs1,685.73cr in Q1FY21, as against Rs550.74cr in Q1FY20. The company made an additional contingency provision of about Rs1,450cr for COVID-19 taking the overall contingency provision for COVID-19 to nearly Rs2,350cr as of 30 June 2020.
Operating profit for Q1FY21 stood at Rs1,309.74cr, which declined by 29.3% yoy as against Rs1851.42cr inQ1FY20. Profit after tax (PAT) stood at Rs962.32cr for Q1FY21 that declined by 19.5% yoy, as compared to Rs1,195.3cr it reported in Q1FY20.
Gross NPA stood at 1.4% in Q1FY21, which declined by 20bps yoy, as against 1.6% in Q1FY20. Net NPA stood at 0.5% in Q1FY21 that declined by 14bps yoy, compared to 0.64% in Q1FY20.
The provisioning coverage ratio as of 30 June 2020 was at 65%. Standard assets provisioning (ECL stage 1 and 2) stood at 273bps including contingency provision for COVID-19 and 101bps excluding contingency provision. Capital adequacy ratio in Q1FY21 stood at 26.40%. The Tier-I capital stood at 22.56%.
At around 12:28 pm, the stock traded at Rs3,472.8 with gains of 0.91% on BSE.
|Particulars||Q1FY21 (Rs in cr)||
(Rs in cr)
|Net interest income||4,150.57||3,692.12||12.4|
|Net NPA (%)||0.50||0.64||-0.14|
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