The lender said it is its highest ever quarterly net profit, backed by steady business expansion and consistent loan repayment from the ground.
Its net interest income rose about 40% to Rs 516 crore in the quarter against Rs Rs 369 crore in the same quarter last year.
“There has been healthy growth across all parameters ranging from borrower addition, disbursements, collection efficiency, asset quality, net interest margin, return ratios and traction in foreign funding,” managing director Udaya Kumar Hebbar was quoted as saying in a press statement issued by the lender.
“Our asset quality largely normalised with 97%-98% collection efficiency,” he said.
The lender’s gross loan portfolio grew 24% year-on-year to Rs 16,539 crore at the end of September.
Its loan disbursements for the quarter rose 12.5% to Rs 4,375 crore over the same period last year.
The lender wrote-off sticky loans amounting to Rs 163 crore helping non-performing assets ratios to improve. It said its gross non-performing assets ratio stood at 2.17% with NET NPA being at 0.77% at the end of the reporting cycle.