The private sector lender said its fourth-quarter net profit stood at Rs 513 crore, up 12.50% year-on-year. Its pre-provision operating profit was 17.60% higher at Rs 835 crore.
The bank’s share price rose to Rs 228.20 at the end of trade. The Sensex, however, was down by 1.03%.
The bank has made the highest ever annual profit of Rs 1,942 crore for the year ended March 31, and also the highest quarterly profit of Rs 513 crore, managing director B Ramesh Babu said. “The strong performance was guided by our three key metrics: growth, profitability and asset quality,” he said.
Its net interest margin for the quarter stood at 4.05% as compared with 4.20% for the corresponding quarter of the previous year. Net interest income increased by 9.11% to Rs 1,089 crore.
The bank’s total advances rose by 13.5% year-on-year to 84,491 crore at the end of March, while the gross non-performing assets ratio stood lower at 0.76%, down 64 basis points year-on-year.Total deposits grew by 14.6% to Rs 1.02 lakh crore.