The bank reported standalone net profit of Rs 3,757.23 crore for the quarter ended March 31, 2024 as compared to Rs 3174.74 crore in the same period last year, registering a year-on-yearÿgrowthÿof 18.35 per cent.

Interest income of the bank rose by 20.48 per cent at Rs 28807.35 crore for the quarter ended March 31, 2024 as against Rs 23909.80 crore in the corresponding period last year.

During the January-March quarter, total income rose moderately by 18.62 per cent to Rs 34,025.18 crore from Rs 28,684.97 crore in the year ago period.

Meanwhile, operating expenses increased by 24.29 per cent to Rs 26,637.72 crore from Rs 21,432.73 crore in the same period last year.

Operating profit surged 1.86 per cent to Rs 7,387.46 crore from Rs. 7,252.24 crore.

Provisions and Contingencies slipped by 19.81 per cent at Rs 2,481.82 crore from Rs 3,094.95 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 11.18 per cent at Rs 9,580.20 crore versus Rs 8,616.79 crore in the year ago period. Non-interest income rose 9.27 per cent year-on-year to Rs 5,217.83 crore.

On the asset side, gross non- performing assets (NPAs)ÿfellÿto 4.23 per cent of the gross advances as at the end of March 31, 2024 from a level of 5.35 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 1.27 per cent of net advances on March 31, 2024 from 1.73 per cent a year ago.