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The bank reported standalone net profit of Rs 10.10 crore for the quarter ended June 30, 2022 as compared to Rs 3.13 crore in the same period last year, registering a year-on-year?growth?of 222.68 per cent. Interest income of the bank rose by 209.08 per cent at Rs 18.73 crore for the quarter ended June 30, 2022 as against Rs 6.06 crore in the corresponding period last year. During the April-June quarter, total income rose substantially by 40.15 per cent to Rs 289.05 crore from Rs 206.24 crore in the year ago period. Meanwhile, operating expenses increased by 37.34 per cent to Rs 278.95 crore from Rs 203.11 crore in the same period last year. Operating profit surged 222.68 per cent to Rs 10.10 crore from Rs. 3.13 crore. Provisions and Contingencies slipped by 0.00 per cent at Rs 0.00 crore from Rs 0.00 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 268.00 per cent at Rs 11.04 crore versus Rs 3.00 crore in the year ago period.

Non-interest income rose 35.04 per cent year-on-year to Rs 270.32 crore. On the asset side, gross non- performing assets (NPAs)?fell?to 0.00 per cent of the gross advances as at the end of June 30, 2022 from a level of 0.00 per cent year earlier. Its net NPAs or bad loans too?declined?to 0.00 per cent of net advances on June 30, 2022 from 0.00 per cent a year ago.