The net profit was at Rs 55.7 crore against Rs 119.5 crore in the year ago period.
Operating profit however grew 52% year-on-year at Rs 287 crore, backed by 47% jump in net interest income at Rs 425 crore.
“The first quarter of the fiscal was a challenging one for the company. The long drawn seven phase general elections, severe heat wave across the country and higher attrition in select geographies posed a challenge to the quality of the portfolio,” managing director Shalabh Saxena said.
The lender’s gross non-performing assets ratio jumped 97 basis points to 2.6% at the end of June from 1.63% a year back. The company said that it maintained the provision coverage ratio at 79.7%.Its assets under management rose 32% year-on-year to Rs 11,723 crore.
