The net profit margin was higher at 17.70% in Q3FY24 versus 16.28% in Q3FY23 and 16.04% in Q2FY24.
The net interest earned during the reported quarter stood at Rs 5,171.50 crore which was up 25% year-on-year (YoY) versus Rs 4,130.56 crore in the corresponding quarter of the previous financial year. It was up over 2% on a quarter-on-quarter (QoQ) basis versus Rs 5,067.96 in Q2FY24.
The total interest expended by the bank was reported at Rs 2750.42 crore which was up by 28% from Rs 2,149.19 posted by the bank in Q3FY23.
Q3 Operating Profit
The operating profit which measures profit before provisions and contingencies stood at Rs 2,012.08 crore for the reporting quarter against Rs 1,580.29 crore in the year-ago period.
Deposits
The deposits at the end of December 31, 2023, stood at Rs 245,714.90 crore which was up from Rs 208,416.90 crore in the year-ago period.
The bank also witnessed an uptick in its capital in the reporting quarter at Rs 7081.37 crore versus 6730.50 crore in the year-ago period.
NPAs
The amount of gross non-performing assets (NPAs) for the said quarter stood at Rs 3,858.22 crore down from Rs 4,612.12 crore reported in the year-ago period. In the preceding quarter, the bank had reported gross NPAs at Rs 40,16.97 crore. The net NPA amount for the October-December quarter stood at Rs 405.03 crore versus 715.01 crore in Q3FY23 and Rs 410.46 crore in Q2FY24.
The gross NPAs reported at 2.04% were down on the YOY and QoQ basis. In Q3FY23 and Q2FY24, the bank had reported gross NPAs at 2.94% and 2.19%, respectively. The net NPAs were at 0.22% in Q3FY24, down from 0.23% in Q2FY24 and 0.47% in Q3FY23.
The quarterly results were announced during market hours and the stock jumped 3.6% to hit its 52-week high of Rs 52.25 on the NSE.
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