Highlights for Q2 of FY 2023
Net profit at ₹828 crore, growth of 46% YoY and 10% QoQ.
Operating Profit at ₹2,208 crore, growth of 64% YoY and 8% QoQ.
NII stood at ₹2,738 crore, growth of 48% YoY and 10% QoQ.
NIM at 4.37%, growth of 135 bps YoY and 35 bps QoQ.
Cost to Income Ratio at 42.29%, reduction of 1014 bps YoY and 115 bps QoQ.
CASA ratio at 56.19%, growth of 156 bps YoY and 54 bps QoQ.
Return on Assets (ROA) at 1.09%, growth of 30 bps YoY and 6 bps QoQ.
Return on Equity (ROE) at 15.21%, growth of 230 bps YoY and 41 bps QoQ.
Net NPA at 1.15%, reduction of 56 bps YoY and 10 bps QoQ.
Gross NPA at 16.51%, reduction of 534 bps YoY and 339 bps QoQ.
PCR stood at 97.86% as against 97.27% on Sept 30, 21 and 97.79% on June 30, 22.
Operating Performance:
§ Net Profit improved by 46% for Q2-2023 to ₹828 crore as against net profit of ₹567 crore for Q2-2022. Net Profit for Q1-2023 was ₹756 crore.
§ PBT improved by 85% for Q2-2023 to ₹1,437crore as against ₹775 crore for Q2-2022. PBT for Q1-2023 was ₹1,093 crore.
§ Operating profit improved by 64% for Q2-2023 to ₹2,208 crore as against ₹1,346 crore for Q2-2022. Operating profit was at ₹2,052 crore for Q1-2023.
§ Net Interest Income improved by 48% for Q2-2023 ₹2,738 crore as against ₹1,854 crore for Q2-2022. NII stood ₹2,488 crore for Q1-2023.
§ Net Interest Margin (NIM) stood at 4.37% (4.22% excluding interest on IT refund) for Q2-2023 as compared to 3.02% for Q2-2022. NIM stood at 4.02% (3.73% excluding interest on IT refund) for Q1-2023.
§ Cost of Deposit reduced by 16 bps to 3.44% for Q2-2023 as compared to 3.60% for Q2-2022. Cost of deposit stood at 3.36% for Q1-2023.
§ Cost of Funds reduced by 16 bps to 3.72% for Q2-2023 as compared to 3.88% for Q2-2022. Cost of funds stood at 3.61% for Q1-2023.
Business Growth
§ CASA increased to ₹1,29,407 crore as on September 30, 2022 as against ₹1,21,995 as on September 30, 2021 (YoY growth of 6%). CASA stood at ₹1,25,356 crore as on June 30, 2022.
§ Share of CASA in total deposits improved to 56.19% as on September 30, 2022 as against 54.63% as on September 30, 2021 and 55.65% as on June 30, 2022.
§ Net advances grew by 17% YoY to ₹1,46,752 crore as on September 30, 2022.
§ The composition of corporate v/s retail in gross advances portfolio was at 35:65 as on September 30, 2022 as against 37:63 as on June 30, 2022.
Asset Quality
§ Gross NPA ratio stood at 16.51% as on September 30, 2022 as against 21.85% as on September 30, 2021. Gross NPA stood at 19.90% as on June 30, 2022.
§ Net NPA ratio improved to 1.15% as on September 30, 2022 as against 1.71% as on September 30, 2021. Net NPA ratio stood at 1.25% as on June 30, 2022.
§ Provision Coverage Ratio (including Technical Write-Offs) improved to 97.86% as on September 30, 2022 from 97.27 % as on September 30, 2021. PCR stood at 97.79% as on June 30, 2022.
Capital Position
§ Tier 1 improved to 17.05% as on September 30, 2022 as against 14% as on September 30, 2021 and 17.13% as on June 30, 2022.
§ CRAR improved to 19.48% as on September 30, 2022 as against 16.59 % as on September 30, 2021 and 19.57% as on June 30, 2022.
§ Risk Weighted Assets (RWA) stood at ₹1,57,840 crore as on September 30, 2022 as against ₹1,52,028 crore as on September 30, 2021. Total RWA was ₹1,53,832 crore as on June 30, 2022. Credit Risk weighted assets stood at ₹1,25,250 crore as on September 30, 2022 as against ₹1,20,644 crore as on September 30, 2021. Credit RWA was ₹1,21,798 crore as on June 30, 2022.
