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The bank reported standalone net profit of Rs 168.98 crore for the quarter ended March 31, 2021 as compared to Rs 122.32 crore in the same period last year, registering a year-on-year growth of 38.15 per cent. Interest income of the bank rose by 9.20 per cent at Rs 1292.37 crore for the quarter ended March 31, 2021 as against Rs 1183.45 crore in the corresponding period last year.

During the January-March quarter, total income rose moderately by 14.81 per cent to Rs 1,569.02 crore from Rs 1,366.60 crore in the year ago period. Meanwhile, operating expenses increased by 13.74 per cent to Rs 1,195.20 crore from Rs 1,050.81 crore in the same period last year. Operating profit surged 18.37 per cent to Rs 373.81 crore from Rs. 315.79 crore.

Provisions and Contingencies surged by 18.07 per cent at Rs 177.78 crore from Rs 150.57 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 18.18 per cent at Rs 655.83 crore versus Rs 554.94 crore in the year ago period. Non-interest income rose 51.05 per cent year-on-year to Rs 276.65 crore. On the asset side, gross non- performing assets (NPAs) rose to 4.25 per cent of the gross advances as at the end of March 31, 2021 from a level of 1.68 per cent year earlier. Its net NPAs or bad loans too increased to 2.18 per cent of net advances on March 31, 2021 from 0.81 per cent a year ago.