Net profit stood at Rs 343 crore as against Rs 279 crore.
The bank’s net interest margin, a key profit metric, stood at 6.2% for the quarter, as against 5.9% in the same period last year.
Total income grew 40.3% to Rs 2240 crore in the quarter under review, from Rs 1597 crore a year ago.
Operating profit grew 27% to Rs 499 crore as against Rs 393 crore.
Its provisions and contingencies stood at over Rs 43 crore as against Rs 4.6 crore, while asset quality has improved. The gross non-performing assets ratio at the end of September stood at 1.9%, compared to 1.96% three months ago. Net NPAs stood at 0.56%.
AU’s provision coverage ratio stood at 71%. In addition to a provision of Rs 667 crore against the gross NPA pool, the bank created an additional provision buffer of Rs 148 crore against the restructured book, while contingency provision stood at Rs 129 crore, provisional provision of Rs 41 crore and standard provision of Rs 162 crore.
The bank saw a 6% growth in gross advances to Rs 52,452 crore at the end of September from Rs 49,349 crore three months ago. Deposit collections grew 7% quarter-on-quarter to Rs 58,335 crore with improvement in CASA (Current and Savings Account) ratio from Rs 54,631 crore to 42%.
The bank said the loan asset growth was coupled with a consistent collection efficiency of 108% for the quarter, resulting in continued improvement in the asset quality ratio.
For the second quarter, its return on assets stood at 1.8%.
Its share price closed at Rs 625.65 on Wednesday, which is unchanged from the previous closing level.
AU raised Rs 2500 crore with Tier I equity capital of Rs 2,000 crore and Tier II capital of Rs 500 crore during the reporting quarter, raising the capital adequacy ratio to 23.36% at the end of September.