The country’s largest private sector lender on Saturday reported a 14.36 per cent jump in consolidated net profit to Rs 8,760 crore for the December quarter.


At the standalone level, the net profit for the three-month period grew 18.09 per cent to Rs 8,758.29 crore.



Its total income increased to Rs 37,522 crore on a standalone basis compared to Rs 36,039 crore in the year-ago period.


The results, the first earnings to be declared by the bank under new chief executive and managing director Sashidhar Jagdishan, displayed an improvement in the 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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor




Source link