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Led by standstill status from the Supreme Court, the gross non-performing asset ratio declined to 0.55% from 1.03% QoQ and net-non performing asset ratio came at 0.19% from 0.37% on a consolidated basis.
However, proforma GNPA and net non-performing asset surged to 2.86% and 1.22% respectively. Restructuring is at 1.4% of loans and has provisions of Rs 397 crore on it.
The company expects to revert to pre-Covid-19 NNPA by H1 FY22, except auto finance business which may take longer due to underlying collateral value.
During the quarter, the company has also done one-time principal write-off of Rs 1,970 crore, on account of Covid-19 related stress
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