The bank reported standalone net profit during the quarter stood at Rs 507.05 crore compared to net loss of Rs 4532.35 crore in the previous year quarter. Interest income of the bank rose by 7.83 per cent at Rs 13291.92 crore for the quarter ended September 30, 2019 as against Rs 12326.28 crore in the corresponding period last year. During the July-September quarter, total income rose moderately by 10.83 per cent to Rs 15,556.61 crore from Rs 14,035.88 crore in the year ago period. Meanwhile, operating expenses increased by 7.13 per cent to Rs 11,994.66 crore from Rs 11,196.38 crore in the same period last year.
Operating profit surged 25.44 per cent to Rs 3,561.95 crore from Rs. 2,839.50 crore. Provisions and Contingencies slipped by 69.98 per cent at Rs 2,928.90 crore from Rs 9,757.90 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 7.29 per cent at Rs 4,263.84 crore versus Rs 3,974.11 crore in the year ago period. Non-interest income rose 32.47 per cent year-on-year to Rs 2,264.69 crore. On the asset side, gross non- performing assets (NPAs) fell to 16.76 per cent of the gross advances as at the end of September 30, 2019 from a level of 17.16 per cent year earlier. Its net NPAs or bad loans too declined to 7.65 per cent of net advances on September 30, 2019 from 8.90 per cent a year ago.