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The bank reported standalone net profit of Rs 606.27 crore for the quarter ended March 31, 2022 as compared to Rs 250.19 crore in the same period last year, registering a year-on-year growth of 142.32 per cent. Interest income of the bank rose by 5.68 per cent at Rs 9856.28 crore for the quarter ended March 31, 2022 as against Rs 9326.60 crore in the corresponding period last year. During the January-March quarter, total income rose by 0.56 per cent to Rs 11,443.45 crore from Rs 11,379.84 crore in the year ago period. Meanwhile, operating expenses dropped by 3.31 per cent to Rs 8,977.79 crore from Rs 9,285.47 crore in the same period last year. Operating profit surged 17.73 per cent to Rs 2,465.66 crore from Rs. 2,094.37 crore.

Provisions and Contingencies slipped by 15.86 per cent at Rs 1,540.61 crore from Rs 1,831.04 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 35.77 per cent at Rs 3,986.10 crore versus Rs 2,935.86 crore in the year ago period. Non-interest income dipped 22.70 per cent year-on-year to Rs 1,587.17 crore. On the asset side, gross non- performing assets (NPAs) fell to 9.98 per cent of the gross advances as at the end of March 31, 2022 from a level of 13.77 per cent year earlier. Its net NPAs or bad loans too declined to 2.34 per cent of net advances on March 31, 2022 from 3.35 per cent a year ago.