Export-Import Bank of India (Exim Bank) Thursday registered a profit after tax of Rs 82 crore for 2018-19 financial year.
It reported a loss of Rs 2,924 crore in 2017-18.
The export finance institution also witnessed reduction in bad loans during the year.
Managing Director David Rasquinha said 2017-18 was a clean-up year wherein the bank did a significant tightening of the balance sheet and lending norms. It did an aggressive provisioning which led to a loss in that fiscal.
"The picture has turned around. In 2018-19, even after making all the provisions required by the RBI or additional precautionary provisions, we have registered a profit after tax of Rs 82 crore," Rasquinha told reporters