The bank reported standalone net profit of Rs 807.34 crore for the quarter ended March 31, 2024 as compared to Rs 571.03 crore in the same period last year, registering a year-on-yearÿgrowthÿof 41.38 per cent.

Interest income of the bank rose by 16.70 per cent at Rs 8337.08 crore for the quarter ended March 31, 2024 as against Rs 7143.86 crore in the corresponding period last year.

During the January-March quarter, total income rose moderately by 13.20 per cent to Rs 9,698.74 crore from Rs 8,567.45 crore in the year ago period.

Meanwhile, operating expenses increased by 18.20 per cent to Rs 7,635.39 crore from Rs 6,459.69 crore in the same period last year.

Operating profit slipped 2.11 per cent to Rs 2,063.35 crore from Rs. 2,107.76 crore.

Provisions and Contingencies slipped by 41.30 per cent at Rs 707.09 crore from Rs 1,204.61 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 0.80 per cent at Rs 3,540.85 crore versus Rs 3,512.73 crore in the year ago period. Non-interest income dipped 4.35 per cent year-on-year to Rs 1,361.66 crore.

On the asset side, gross non- performing assets (NPAs)ÿfellÿto 4.50 per cent of the gross advances as at the end of March 31, 2024 from a level of 8.44 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 1.23 per cent of net advances on March 31, 2024 from 1.77 per cent a year ago.