on Monday registered a consolidated net profit of Rs52.48cr for the quarter ending June 2020 (Q1FY21), down by 25.3% as compared to a profit of Rs70.27cr recorded in the corresponding period of the previous year.
Consolidated total income, on the contrary, increased to Rs787.09cr in the quarter under review against Rs662.52cr a year ago same period.
Other key highlights of the financial performance are:
Advances as of Q1FY21 was at Rs15,573cr, with a growth of 27% yoy
The Bank disbursed stood at Rs564cr in Q1FY21
Deposits excluding CD at Rs11,471cr as on 30th June 2020, growth of 30% YoY and 11% QoQ
As of June 30, 2020, Total CRAR at 21.59% and Tier-I CRAR of 20.61%; Well above minimum regulatory requirements of 15% and 7.5%
GNPA at 2.68% in Q1FY21 as compared to 2.72% in Q4FY20 and 2.73% in Q1FY20
In its financial audit report, Equitas Holding said, "The Bank has used early indicators of the moratorium and delayed payment metrics observed along with an estimation of potential stress on the probability of defaults and exposure at default due to COVID-19 situation in developing the estimates and assumptions to assess the expectedcredit loss on loans and has recognised an expectedcredit loss of Rs395.03cr, including an additional impairment allowance of Rs178.29cr."
On Sensex, the company's stock has settled at Rs52.05 per piece higher by 2.26%.