The Mumbai-headquartered bank witnessed 41% drop in its other income at ₹773.5 crore as against ₹1,317 crore in June 2019.

The lender saw rise in NPAs on all fronts on both sequential basis and annual basis.

The gross non-performing assets ratio widened to 2.7% from 2.19% a year ago and 2.25% in the previous quarter. Percentage of net NPAs increased to 0.87% from 0.71% in March quarter and 0.73% a year ago.

On annual basis, net interest income (NII) increased by 17.81% to ₹3,723.85 crore.

The bank has made an additional Covid-19-related general provision of ₹616 crore in Q1FY21. Coronavirus-related provisions as of 30 June, 2020 stand at ₹1,266 crore (0.62% of net advances).

“The continued slowdown in economic activities has impacted lending business, fee income generation from sale of third party products or usage of debit/ credit cards, collection efficiency etc. This slowdown may impact customer defaults and consequently increase In provisions at the group level. There is a high level of uncertainty regarding the time required for life and business to get normal. The extent to which COVID-19 pandemic will impact the Bank’s operations and financial results Is dependent on the future developments, which are highly uncertain, including among many other things, any new information concerning the severity of the pandemic and any action to contain its spread or mitigate its impact, whether Government mandated or elected by the Bank,” the lender said in its regulatory filing.

Provision and contingencies spiked three times in June quarter to ₹962 as against ₹317 crore in the same period a year ago.

The bank said that RBI’s second moratorium on loan repayments comes to 9.65% of its loan book as of 30 June.

At 2:10 pm on Monday, the bank’s scrip on BSE was trading nearly 2% lower at ₹1,326.55.