Private sector bellwether , which released its earnings on Saturday, reported a strong 19% year-on-year (YoY) growth in net profit to Rs 12,259 crore for the quarter ended December.
On Friday, shares of the lender ended 0.1% higher at Rs 1,600.65 on the National Stock Exchange, while its American Depository Receipts ended 1.2% higher at $67.52 on the New York Stock Exchange.
Key takeaways from the December quarter earnings:
Net interest income
Growth in the net interest income for the lender was the strongest in at least three quarters. The net interest income for the reported quarter increased nearly 25% on-year to Rs 22,988 crore. In the preceding three quarters, the growth in net interest income was 10-19%.
Loan/Deposits
Total advances at Rs 15.06 lakh crore as of December 31, was 19.5% higher from the year-ago period.
The total deposits saw healthy growth of 20% YoY and stood at Rs 17.3 lakh crore as of December 31. CASA deposits grew by 12%, with savings account deposits at Rs 5.35 lakh crore and current account deposits at Rs 2.28 lakh crore. CASA deposits comprised 44.0% of total deposits as of December 31.Asset Quality
On a year-on-year basis, the private sector lender saw further improvement in the asset quality, while sequentially it remained largely stable. Gross non-performing assets, as a percentage of the total loans, was 1.23% as on December 31, compared with 1.26% a year ago. It was unchanged from the September quarter.
Net non-performing assets, as a percentage of the total loans, was 0.33% as on December 31, compared with 0.37% a year ago. It was unchanged from the September quarter.
Provisions
Provisions and contingencies for the quarter dropped 6.3% YoY to Rs 2,806 crore.
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