CSB Bank on Friday reported a multi-fold jump in its net profit at Rs 130.67 crore in the quarter ended March 2022.
The private sector lender had posted a net profit of Rs 43 crore in the same quarter a year ago.
Total income during March quarter of FY22 rose to Rs 583.17 crore, as against Rs 560.87 crore in the year-ago period, CSB Bank said in a regulatory filing.
Bank’s asset quality showed improvement with the gross Non-Performing Assets (NPAs) or bad loans falling to 1.81 per cent of the gross loans as of March 31, 2022. It stood at 2.66 per cent in the previous year.
In absolute value, the gross NPAs were worth Rs 289.51 crore, down from Rs 393.49 crore.
Net NPAs were trimmed to 0.68 per cent (Rs 106.99 crore) from 1.17 per cent (Rs 168.81 crore) in the corresponding period of the previous year.
“The board of directors has not recommended any dividend for the year ended March 31, 2022,” CSB Bank said.
Full year net profit of the bank in fiscal ended March 2022 increased by over two-times to Rs 458.49 crore. It was Rs 218.40 crore in the previous fiscal year.
Total income during the year rose to Rs 2,285.11 crore from Rs 2,175.42 crore.
On Friday, shares of the bank closed 9.79 per cent up at Rs 227.60 apiece on the BSE.