The bank reported standalone net profit of Rs 2,160.15 crore for the quarter ended June 30, 2021 as compared to Rs 1112.17 crore in the same period last year, registering a year-on-yearÿgrowthÿof 94.23 per cent.
Interest income of the bank declined by 3.24 per cent at Rs 16003.46 crore for the quarter ended June 30, 2021 as against Rs 16538.89 crore in the corresponding period last year.
During the April-June quarter, total income rose marginally by 2.44 per cent to Rs 19,591.63 crore from Rs 19,125.57 crore in the year ago period.
Meanwhile, operating expenses dropped by 0.79 per cent to Rs 13,175.59 crore from Rs 13,281.17 crore in the same period last year.
Operating profit surged 9.78 per cent to Rs 6,416.04 crore from Rs. 5,844.40 crore.
Provisions and Contingencies slipped by 20.03 per cent at Rs 3,532.01 crore from Rs 4,416.42 crore a year ago.
NII, the difference between interest earned on loans and interest paid on deposits, increased by 11.09 per cent at Rs 7,760.27 crore versus Rs 6,985.31 crore in the year ago period. Non-interest income rose 38.72 per cent year-on-year to Rs 3,588.17 crore.
On the asset side, gross non- performing assets (NPAs)ÿfellÿto 3.85 per cent of the gross advances as at the end of June 30, 2021 from a level of 4.72 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 1.20 per cent of net advances on June 30, 2021 from 1.23 per cent a year ago.