Total income rose 7% year-on-year to Rs 2,740 crore, supported by steady growth in both interest and non-interest income sources. Net interest income increased by 7% to Rs 1,671 crore. Interest income rose 7% to Rs 3,720 crore, supported by a 23% rise in net advances to Rs 114,232 crore, with retail advances growing 20% to Rs 67,119 crore. Interest expenses also rose by 7% to Rs 2,049 crore, reflecting a 25% growth in total deposits to Rs 139,018 crore.
CASA deposits rose 23% to Rs 46,723 crore, with CASA ratio at 33.6%.Other income rose 7% to Rs 1,069 crore, led by core fee income which rose 9% to Rs 1,057 crore. Other components of non-interest income have remained largely stable, with growth mainly driven by fees.Operating expenses rose 5% to Rs 1,785 crore, with staff costs increasing 8% to Rs 482 crore. Operating profit rose by 11% to Rs 955 crore. Provisions fell by 14% to Rs 678 crore from Rs 785 crore in the previous year, with provisions for advances down by 16%.
Tax expenses rose to Rs 47 lakh crore from Rs 7 lakh crore in the corresponding quarter last year.Asset quality improved during the year, with gross non-performing assets falling to 1.45% from 2.60%, a decrease of 115 basis points. Net NPAs were 0.39% compared to 0.29% in the previous year. The allocation coverage ratio reached 73.6%. The capital adequacy ratio was 14.25%, while the first part of shareholders’ equity was 12.77%.
