The fall in net profit was despite a Rs 56 crore gain due to change in accounting policy effective April 1, according to the bank's regulatory filing to stock exchanges.
The net interest margin for the quarter compressed to 3.28%. Net interest Income rose 2% at Rs 1497 crore.
The share price nosedived 12.8% to Rs 154.6 on BSE, reacting to the pressure on profitability.
The pre-provision operating profit for the quarter stood 4.5% higher at Rs 703 crore against Rs 673 crore earlier. The bank made a higher provision of Rs 84 crore against Rs 15 crore.
The bank's advances grew by 25% year-on-year to Rs 1.31 lakh crore at the end of June while yield on advances for the quarter under review stood lower at 8.56% against 9.35% for the corresponding period last year.
Its deposits increased by 17% year-on-year to Rs 1.73 lakh crore.
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