4% rise in interest expenses to Rs 1076.60 crore saw net interest income (NII) rising 10% to Rs 373.63 crore.

Other income jumped 67% to Rs 173.44 crore, which took net total income up 23% to Rs 547.07 crore.

Operating expenses grew 9% to Rs 287.59 crore, after which OP rose 43% to Rs 259.48 crore.

Provision and contingencies rose 44% to Rs 114.11 crore after which PBT rose 43% to Rs 145.37 crore.

As tax expenses grew 39% to Rs 50.31 crore, net profit increased 46% to Rs 95.06 crore.

FY 2016 results

For FY 2016 the bank had 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.

OP had grown 8% to Rs 879.28 crore.

Provision and contingencies had fallen 11% to Rs 369.62 crore, after which PBT had grown 27% to Rs 509.66 crore. EO income was NIL against Rs 43.39 crore. Thus PBT after EO had grown 14% to Rs 509.66 crore. As tax expenses had grown 27% to Rs 176.39 crore, net profit had grown 8% to Rs 333.27 crore.

Asset Quality

Gross NPA stood at Rs 1651.60 crore as of June 2016 against Rs 1562.36 crore in March 2016 quarter and Rs 713.83 crore as of June 2015.

In percentage terms, %GNPA stood at 3.96% as of June 2016 against 3.77% in March 2016 quarter and 1.85% as of June 2015.

Net NPA stood at Rs 1191.83 crore as of June 2016 against Rs 1185.26 crore in March 2016 quarter and Rs 463.98 crore as of June 2015.

In percentage terms, %NNPA stood at 2.89% as of June 2016 against 2.89% in March 2016 quarter and 1.21% as of June 2015.

Capital Adequacy Ratio

Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood at 11.68% as of June 2016 against 11.82% in March 2016 quarter and 11.46% as on June 2015 quarter.

Book Value

Book Value per share stands at Rs 28.2 per share at end June 2016.

Adjusted Book value (adjusting for NNPA and 10% of restructured advances) stood at Rs 18.3 per share at end June 2016.

Valuation

The share price trades at Rs 23.