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The bank reported standalone net profit of Rs 197.83 crore for the quarter ended March 31, 2022 as compared to Rs 75.34 crore in the same period last year, registering a year-on-year growth of 162.58 per cent. Interest income of the bank rose by 10.85 per cent at Rs 2130.96 crore for the quarter ended March 31, 2022 as against Rs 1922.40 crore in the corresponding period last year. During the January-March quarter, total income rose marginally by 1.21 per cent to Rs 2,642.31 crore from Rs 2,610.83 crore in the year ago period. Meanwhile, operating expenses increased by 14.45 per cent to Rs 1,984.89 crore from Rs 1,734.30 crore in the same period last year.

Operating profit slipped 25.00 per cent to Rs 657.42 crore from Rs. 876.53 crore. Provisions and Contingencies slipped by 47.71 per cent at Rs 400.67 crore from Rs 766.25 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 24.87 per cent at Rs 1,131.34 crore versus Rs 906.04 crore in the year ago period. Non-interest income dipped 25.72 per cent year-on-year to Rs 511.35 crore. On the asset side, gross non- performing assets (NPAs) rose to 4.40 per cent of the gross advances as at the end of March 31, 2022 from a level of 4.34 per cent year earlier. Its net NPAs or bad loans too declined to 1.34 per cent of net advances on March 31, 2022 from 2.12 per cent a year ago.