The company has reported a net profit of Rs 236.26 crore on net interest income of Rs 484 crore against a net of Rs 180 crore on an income of Rs 390 crore in the corresponding quarter last year. A poll of brokers conducted by NDTV Profit had seen net profit rising to Rs 232 crore on income of Rs 485 crore.
The lender has been able to improve its asset quality marginally as compared to last year. Gross non-performing assets, as a percentage of advances, have declined to 0.97 per cent against 1.08 per cent (YoY), while net NPAs have also declined to 0.27 per cent from 0.3 per cent (YoY). However, provisions rose to Rs 53.5 crore against Rs 44.59 crore (YoY).
The other income, which comprises the fee income and is a key focus area for the lender, rose to Rs 318.78 crore against Rs 215.4 crore.
Shares in the company slipped 0.6 per cent to Rs 341.40 at 2.17 p.m. on the BSE post the earnings announcement.