The bank reported a 39% YoY drop in net profit to ₹1,325 crore, missing analysts’ expectations of ₹2,138 crore, fueling investor concerns.
Despite lower profits, net interest income rose 5% YoY to ₹5,347 crore, although margins faced pressure.
The bank’s net interest margin dropped by 21 basis points to 4.08%, impacting its profitability.
Gross NPAs increased to 2.11% and net NPAs to 0.64%, signaling a weakening in asset quality.