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Driven by the Supreme Court’s status quo, the gross non-performing assets ratio fell to 0.55% from 1.03% QoQ and the net non-performing assets ratio stood at 0.19 % vs. 0.37% on a consolidated basis.
However, pro forma GNPA and non-performing net assets jumped to 2.86% and 1.22% respectively. The restructuring accounts for 1.4% of loans and includes provisions of Rs 397 crore.
The company plans to revert to the pre-Covid-19 NNPA by the first half of FY22, with the exception of auto finance activities which may take longer due to the value of the collateral under- underlying.
During the quarter, the company also proceeded with a one-time main write-off of Rs 1,970 crore, due to stress related to Covid-19.
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