Both net profit and net interest income were slightly lower than analysts’ estimates.
Bank’s core net interest margin for the quarter was largely flat sequentially at 4.1 per cent of the total assets.
Asset quality improved sequentially for the private sector lender. The gross non-performing asset ratio (GNPA) was 1.23 per cent as on September 30, compared with 1.28 per cent quarter ago. The net NPA ratio at 0.33 per cent as on September 30, was lower than 0.35 per cent a quarter ago.
Operating expenses in the quarter rose 21 per cent on year to Rs. 11,224.6 crores, with the cost-to-income ratio standing at 39.2 per cent.
Provision and contingencies declined to Rs. 3,240 crores in the quarter, from Rs. 3,925 crores a year ago.
Total deposits as on September 30, stood at Rs. 22.3 lakh crores, up nearly 21 per cent from the year-ago period.
The total advances as on September 30, stood at Rs. 14.8 lakh crores, up over 23 per cent from the year-ago period. The lender’s capital adequacy ratio at 18 per cent as on September 30, was well above the regulatory requirement of 11.7 per cent.