News Details

The bank reported standalone net profit of Rs 370.74 crore for the quarter ended March 31, 2024 as compared to Rs 424.63 crore in the same period last year, registering a year-on-yearÿdeclineÿof 12.69 per cent.

Interest income of the bank rose by 24.38 per cent at Rs 2829.50 crore for the quarter ended March 31, 2024 as against Rs 2274.85 crore in the corresponding period last year.

During the January-March quarter, total income rose substantially by 29.80 per cent to Rs 3,385.12 crore from Rs 2,607.91 crore in the year ago period.

Meanwhile, operating expenses increased by 33.58 per cent to Rs 2,720.96 crore from Rs 2,037.00 crore in the same period last year.

Operating profit surged 16.33 per cent to Rs 664.15 crore from Rs. 570.92 crore.

Provisions and Contingencies surged by 224.14 per cent at Rs 132.51 crore from Rs 40.88 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 10.21 per cent at Rs 1,337.03 crore versus Rs 1,213.20 crore in the year ago period. Non-interest income rose 66.82 per cent year-on-year to Rs 555.62 crore.

On the asset side, gross non- performing assets (NPAs)ÿroseÿto 1.67 per cent of the gross advances as at the end of March 31, 2024 from a level of 1.66 per cent year earlier. Its net NPAs or bad loans tooÿincreasedÿto 0.55 per cent of net advances on March 31, 2024 from 0.42 per cent a year ago.