CSB Bank’s gross NPA stood at 1.75% from 1.66% in the March quarter, while Net NPA stood at 0.39% from 0.4% in March. Provisions for the quarter have also increased on a sequential basis.
Provisions at the end of the June quarter stood at ₹49 crore, more than double the ₹23 crore figure reported in June, but lower than the ₹60.7 crore figure it had reported back in the June quarter last year.
For the June quarter, CSB Bank’s Net Interest Income, or core income, increased by 26% from last year to ₹478.4 crore from ₹379.5 crore.
Net profit for the period also increased by 26.5% to ₹150 crore from ₹118.6 crore last year.
Shares of CSB Bank are trading 6.7% lower after the results announcement on Wednesday at ₹345.2. The stock is nearing its 52-week low level of ₹317.35 and is down 40% from its 52-week high of ₹574.
This is breaking news and will be updated with more details.
