Private sector lender Yes Bank on Tuesday reported 60 percent fall in its standalone net profit to Rs 45.44 crore for the first quarter ended June 30.

It had posted a net profit of Rs 113.76 crore in the same period a year ago, and Rs 2,629 crore in the preceding March quarter.

The bank, which is now 30 percent owned by SBI after a Rs 15,000-crore follow on public offer this month, did not share details on the quantum of loans under moratorium in its Rs 2.36 lakh crore book.

Its managing director and chief executive Prashant Kumar said it will be "misleading" to divulge the moratorium figure, even as all its peers are sharing it. He, however, said there is satisfying progress with improvements in repayments from retail, credit card and small business owners.

Share of corporate advances, which forced SBI-led consortium to bailout the bank earlier this year, came down to 56 percent of the loanbook as of June 30.

Kumar said the bank will be focusing on the small value retail and small business loans and using a bulk of the FPO infusion, which gives it a 5 percentage point buffer over mandatory capital levels for growth purposes.

The bank set aside Rs 642 crore in additional provisions for COVID-related setbacks and Kumar said the total money held under this account is Rs 880 crore.

Mandatory provisions for moratorium loans are being held, he said.

Kumar urged not to compare the performance with the same in the year-ago period, when the bank was going through difficulties, and rather, judge it against the March figures.

The core net interest income came at Rs 1,908 crore in June 2020 quarter as against 1,274 crore in March and Rs 2,281 crore in the year-ago period, while the non-interest income grew 4 percent sequentially to Rs 621 crore.

The net interest margin expanded to 3 percent from the preceding quarter's 1.9 percent, while the loans were down 4 percent in the same period.

The bank management said the asset downsizing was due to capital optimisation efforts, which may not be necessary now.

The gross non-performing assets ratio increased to 17.30 percent in June as against 16.80 percent in March on decrease in the denominator.

The loan slippages stood at Rs 45 crore, recoveries were at Rs 160 crore and write-offs were at Rs 60 crore during the reporting quarter. Deposits grew by 11 percent driven by the zero cost current account deposits, Kumar said, adding it helped the bank repay half of the money borrowed from the Reserve Bank of India under a special facility.

It was able to drive down operating costs by 22 percent to 1,382 crore from the Rs 1,765 crore in March quarter on optimisation initiatives. The proforma capital adequacy, including the fund infusion, is at 20 percent with the core tier-I at 13.4 percent, and Kumar said there is no plan to raise any more money.

The bank scrip closed 3.25 percent down at Rs 11.90 apiece on the BSE on Tuesday.