The loan book has doubled between March 2017 and September 2019 while deposits improved.
Gold and SME Loans are the bank’s mainstay business areas, which are subject to stiff competition.
The embattled company’s reserves and surplus account was completely eroded by the loss in H1 of FY20.
First turnover fall in nine quarters due to low demand, inventory pile-up & base effect.
HCL Tech last week reported a 5.2 per cent sequential increase in revenue for the September 2019 quarter to $2.49 billion .
Top Indian banks have lent about Rs 1.5 lakh crore to the telecom sector.
Last time Infy reported a double-digit revenue growth was in dollar terms in FY14 when revenue grew 11.5%.
In addition, the bank’s management hinted that the slowdown may continue for a few quarters.
Keeping currency rates constant, it grew by 1.6 per cent, the lowest in two years.
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