Udaipur : The Bank’s consolidated net revenue grew by 106.5% to ₹ 724.2billion for the quarter ended June 30, 2024 from ₹ 350.7billion for the quarter ended June 30, 2023. The consolidated profit after tax for the quarter ended June 30, 2024 was ₹164.7billion, up 33.2%, over the quarter ended June 30, 2023. Earnings per share for the quarter ended June 30, 2024was ₹21.7and book value per share as of June 30, 2024 was ₹ 625.4.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended June 30, 2024
The Bank’s net revenue grew by 23.4% to ₹ 405.1billionfor the quarter ended June 30, 2024 from ₹ 328.3billion for the quarter ended June 30, 2023.
Net interest income (interest earned less interest expended) for the quarter ended June 30, 2024 grew by 26.4% to ₹298.4billion from ₹ 236.0billion for the quarter ended June 30, 2023.Core net interest margin was at 3.47% on total assets, and 3.66% based on interest earning assets.
Other income (non-interest revenue) for the quarter ended June 30, 2024 was ₹ 106.7billion as against ₹ 92.3billion in the corresponding quarter ended June 30, 2023.The four components of other income for the quarter ended June 30, 2024 were fees & commissions of ₹ 70.5 billion (₹ 62.9 billion in the corresponding quarter of theprevious year), foreign exchange & derivatives revenue of ₹ 14.0 billion (₹ 13.1billion in the corresponding quarter of the previous year), net trading and mark to marketgain of ₹2.2billion (gain of ₹ 5.5 billion in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend of ₹ 20.1 billion (₹ 10.8 billion in the corresponding quarter of the previous year).
Operating expenses for the quarter ended June 30, 2024were ₹166.2billion, anincrease of18.2% over ₹140.6billion during the corresponding quarter of the previousyear. Thecost-to-income ratiofor the quarterwas at 41.0%.
Provisions and contingencies for the quarter ended June 30, 2024 were ₹ 26.0 billionas against ₹ 28.6billion for the quarter ended June 30, 2023.
The total credit cost ratio was at0.42%, as compared to 0.70% for the quarter ending June 30, 2023.
Profit before tax (PBT) for the quarter ended June 30, 2024 was at ₹ 212.8billion.Profit after tax (PAT) for the quarter was at ₹ 161.7 billion, an increase of 35.3% over the quarter ended June 30, 2023.
