The bank reported standalone net profit of Rs 10,707.53 crore for the quarter ended March 31, 2024 as compared to Rs 9121.87 crore in the same period last year, registering a year-on-yearÿgrowthÿof 17.38 per cent.
Interest income of the bank rose by 22.33 per cent at Rs 37948.36 crore for the quarter ended March 31, 2024 as against Rs 31021.13 crore in the corresponding period last year.
During the January-March quarter, total income rose substantially by 20.74 per cent to Rs 43,597.14 crore from Rs 36,108.88 crore in the year ago period.
Meanwhile, operating expenses increased by 28.17 per cent to Rs 28,558.39 crore from Rs 22,282.50 crore in the same period last year.
Operating profit surged 8.77 per cent to Rs 15,038.75 crore from Rs. 13,826.38 crore.
Provisions and Contingencies slipped by 55.64 per cent at Rs 718.49 crore from Rs 1,619.80 crore a year ago.
NII, the difference between interest earned on loans and interest paid on deposits, increased by 8.07 per cent at Rs 19,092.80 crore versus Rs 17,666.79 crore in the year ago period. Non-interest income rose 11.03 per cent year-on-year to Rs 5,648.78 crore.
On the asset side, gross non- performing assets (NPAs)ÿfellÿto 2.16 per cent of the gross advances as at the end of March 31, 2024 from a level of 2.81 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 0.42 per cent of net advances on March 31, 2024 from 0.48 per cent a year ago.