The net profit for the quarter stood at Rs 2,197.03 crore against Rs 1,061.11 crore a year ago.Net interest income (NII) — difference between interest earned and interest expended — increased 14.38 percent year-on-year (YoY) to Rs 8,552.03 crore.
Net interest margin (NIM) – a key measure of profitability – stood at 3.13 percent, an increase of 36 basis points (bps) YoY.Provisions and contingencies fell 27.33 percent from a year ago to Rs 2,507.04 crore.
Other income, which includes fee, trading profit and miscellaneous income, slipped 13.45 percent YoY to Rs 2,519.26 crore in the three months to December.
Gross non-performing assets (NPAs) declined to Rs 55,997 crore in the quarter from Rs 63,182 crore in 2021. Gross NPAs ratio –bad loans as a percentage of gross advances — were at 7.25 percent in Q3 FY22, down 86 bps sequentially and 123 bps YoY. Post-provisions, the net NPA ratio was at 2.25 percent in Q3, against 2.83 percent in the September quarter of FY22 and 2.39 percent in the year-ago quarter.
