2% rise in interest expenses to Rs 993.59 crore saw net interest income (NII) rising 8% to Rs 374.29 crore.

Other income jumped 14% to Rs 139.06 crore, which took net total income up 9% to Rs 513.35 crore.

Operating expenses fell 4% to Rs 291.06 crore, after which OP rose 35% to Rs 222.29 crore.

Provision and contingencies fell 16% to Rs 116.25 crore after which PBT rose 289% to Rs 106.04 crore.

As tax expenses grew 203% to Rs 33.07 crore, net profit increased 347% to Rs 72.97 crore.

FY 2016 results

For FY 2016 The bank registered a 5% rise in Interest income to Rs 5557.20 crore.

A 3% rise in interest expenses to Rs 4047.50 crore saw net interest income (NII) rise 11% to Rs 1509.70 crore.

Other income improved 4% to Rs 517.42 crore, which took net total income up 9% to Rs 2027.12 crore.

Operating expenses grew 10% to Rs 1147.84 crore, after which OP grew 8% to Rs 879.28 crore.

Provision and contingencies fell 11% to Rs 369.62 crore, after which PBT grew 27% to Rs 509.66 crore.

EO income stood at NIL against Rs 43.39 crore. Thus PBT after EO grew 14% to Rs 509.66 crore.

As tax expenses grew 27% to Rs 176.39 crore, net profit rose 8% to Rs 333.27 crore.

Asset Quality

Gross NPA stood at Rs 1562.36 crore as of March 2016 against Rs 1108.01 crore in December 2015 quarter and Rs 643.45 crore as of March 2015.

In percentage terms, %GNPA stood at 3.77% as of March 2016 against 2.75% in December 2015 quarter and 1.71% as of March 2015.

Net NPA stood at Rs 1185.26 crore as of March 2016 against Rs 715.98 crore in December 2015 quarter and Rs 357.05 crore as of March 2015.

In percentage terms, %NNPA stood at 2.89% as of March 2016 against 1.80% in December 2015 quarter and 0.96% as of March 2015.

Capital Adequacy Ratio

Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood at 11.82% as of March 2016 against 11.70% in December 2015 quarter and 12.01% as on March 2015.

Book Value

Book Value per share stands at Rs 28.5 per share at end March 2016.

Adjusted Book value (adjusting for NNPA and 10% of restructured advances) stood at Rs 18.2 per share at end March 2016.

Valuation

The share price trades at Rs 18.