The bank reported standalone net profit of Rs 64.21 crore for the quarter ended March 31, 2018 as compared to Rs 52.86 crore in the same period last year, registering a year-on-yearÿgrowthÿof 21.47 per cent.
Interest income of the bank rose by 18.24 per cent at Rs 649.19 crore for the quarter ended March 31, 2018 as against Rs 549.05 crore in the corresponding period last year.
During the January-March quarter, total income rose moderately by 19.82 per cent to Rs 734.05 crore from Rs 612.64 crore in the year ago period.
Meanwhile, operating expenses increased by 19.14 per cent to Rs 592.47 crore from Rs 497.30 crore in the same period last year.
Operating profit surged 22.75 per cent to Rs 141.58 crore from Rs. 115.34 crore.
Provisions and Contingencies surged by 14.38 per cent at Rs 38.81 crore from Rs 33.93 crore a year ago.
NII, the difference between interest earned on loans and interest paid on deposits, increased by 19.72 per cent at Rs 263.70 crore versus Rs 220.26 crore in the year ago period. Non-interest income rose 33.45 per cent year-on-year to Rs 84.86 crore.
On the asset side, gross non- performing assets (NPAs)ÿroseÿto 1.79 per cent of the gross advances as at the end of March 31, 2018 from a level of 1.59 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 0.72 per cent of net advances on March 31, 2018 from 0.79 per cent a year ago.