Total income during the quarter increased by 5.6% year-on-year (YoY) to Rs 4,834.01 crore.
Net Interest Income (NII) improved by 15% to Rs 1,960 crore in Q4 FY21 from Rs 1,700 crore in Q4 FY20. Net Interest Margin (NIM) rose to 5.09% as on 31 March 2021 from 4.61% as on 31 March 2020.
Pre-Provisioning Operating Profit (PPOP) declined by 18% to Rs 646 crore in the fourth quarter from Rs 787 crore in the same period last year.
The provision for Q4 FY21 was at Rs 603 crore as compared to Rs 679 crore for Q4 FY20. In Q4 FY21, the bank released Rs 324 crore from provisions made for one Telecom Account based on mark to market value of the instruments and made additional provisions of Rs 375 crore for COVID-19 which is carried forward to the next financial year for the unprecedented situation arising due to COVID-19 second wave in India.
Total income during the quarter improved by 0.7% year-on-year (YoY) to Rs 4711.72 crore.
Net Interest Income (NII) grew by 14% YoY to Rs 1,744 crore, up from Rs. 1,534 crore in Q3 FY20. Despite the COVID-19 pandemic impact, the sequential quarter-on-quarter (QoQ) NII grew by 5%. The NII for the quarter takes into account provision for interest reversal on proforma NPA cases at 31 December 2020.
Net Interest Margin (NIM) rose to 4.65%in Q3 FY21 from 3.86% in Q3 FY20 and 4.57% in Q2 FY21.
The bank s operating profit declined by 3% to Rs 660.94 crore in Q3 December 2020 from Rs 681.70 crore in Q3 December 2019.
The provision for Q3 FY21 was at Rs 595 crore as compared to Rs 2,305 crore for Q3 FY20 and as compared to Rs 676 crore in Q2 FY21. This includes additional COVID provisions of Rs 390 crore during Q3 FY21.