The bank reported standalone net profit of Rs 28.98 crore for the quarter ended March 31, 2025 as compared to Rs 3.31 crore in the same period last year, registering a year-on-yearÿgrowthÿof 775.53 per cent.
Interest income of the bank rose by 14.50 per cent at Rs 350.62 crore for the quarter ended March 31, 2025 as against Rs 306.23 crore in the corresponding period last year.
During the January-March quarter, total income rose moderately by 13.36 per cent to Rs 393.71 crore from Rs 347.30 crore in the year ago period.
Meanwhile, operating expenses dropped by 2.66 per cent to Rs 355.03 crore from Rs 364.74 crore in the same period last year.
Operating profit surged 321.79 per cent to Rs 38.68 crore from Rs. -17.44 crore.
Provisions and Contingencies surged by 140.85 per cent at Rs 11.50 crore from Rs -28.15 crore a year ago.
NII, the difference between interest earned on loans and interest paid on deposits, increased by 28.01 per cent at Rs 134.23 crore versus Rs 104.86 crore in the year ago period. Non-interest income rose 4.92 per cent year-on-year to Rs 43.09 crore.
On the asset side, gross non- performing assets (NPAs)ÿfellÿto 2.98 per cent of the gross advances as at the end of March 31, 2025 from a level of 4.05 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 0.99 per cent of net advances on March 31, 2025 from 1.25 per cent a year ago.