The bank reported standalone net loss during the quarter stood at Rs 26.43 crore compared to net profit of Rs 6.79 crore in the previous year quarter.ÿ

Interest income of the bank rose by 18.46 per cent at Rs 258.37 crore for the quarter ended June 30, 2022 as against Rs 218.10 crore in the corresponding period last year.

During the April-June quarter, total income dipped by 0.92 per cent to Rs 236.82 crore from Rs 239.02 crore in the year ago period.

Meanwhile, operating expenses increased by 5.09 per cent to Rs 241.84 crore from Rs 230.13 crore in the same period last year.

Operating profit slipped 156.47 per cent to Rs -5.02 crore from Rs. 8.89 crore.

Provisions and Contingencies surged by 919.52 per cent at Rs 21.41 crore from Rs 2.10 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 47.55 per cent at Rs 117.30 crore versus Rs 79.50 crore in the year ago period. Non-interest income dipped 203.01 per cent year-on-year to Rs -21.55 crore.

On the asset side, gross non- performing assets (NPAs)ÿfellÿto 0.06 per cent of the gross advances as at the end of June 30, 2022 from a level of 0.09 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 0.03 per cent of net advances on June 30, 2022 from 0.05 per cent a year ago.