The total income of the bank also grew to Rs 24,932.19 crore during the second quarter of this year against Rs 21,331.49 crore in the same period of 2020-21.
The bank’s gross non-performing assets (NPAs) declined to 6.37% of the gross advances as of September 30, 2022, compared with 8.42% at the end of September 2021. The net NPA too fell to 2.19% from 3.22% at the end of the September 2021 quarter.
Total provisions and contingencies increased by 8.23% to Rs 3,636.81 crore in Q2 FY23 from Rs 3,360.23 crore recorded in the same period last year. The Provision Coverage Ratio (PCR) improved to 85.36% in Q2FY23 from 84.51% posted in Q1FY23 and 82.44% reported in Q2FY22.
At 11.05 am, the scrip was trading 3.84% higher at Rs 268.85 over its previous day’s closing price of Rs 258.9 apiece. The stock has surged nearly 13% in the last six months while it has risen about 31% year-to-date.