Private sector bank today reported a 14% jump in year on year consolidated net profit to Rs. 8758 crore for Q3FY21. In the corresponding quarter last year, the company posted a net profit of Rs 7,416 crore.
On the standalone basis, the net profit for the three month period surged 18 percent. Total income at the bank on a standalone basis increased to Rs. 37522 crore in comparison to Rs. 36039 crore in the year-ago period. Also, the first results ever since the new chief executive took over also reported an improvement in asset quality.
The gross non-performing assets (NPA) ratio stood at 0.81 per cent of the total assets as against 1.42 per cent in the year-ago period and 1.08 per cent at the end of the preceding September quarter, the bank said.