Shares of CSB Bank recorded a fresh 52-week high of Rs 297.2 per piece on BSE in Friday’s trade, as the private lender reported a healthy growth in net profit and net interest income (NII) for the March quarter (Q4FY23).
The bank’s consolidated net profit increased 19.6 percent to Rs 156.3 crore year-on-year in the March quarter from Rs 130.7 crore in the same quarter a year ago.
The bank’s NII in the quarter grew 14.8 percent to Rs 348.5 crore from Rs 304 crore in the corresponding quarter last year.
On a quarter-on-quarter basis, CSB Bank witnessed a marginal increase in net profit in the March quarter from Rs 155.95 crore in the December quarter.
Its total income in the quarter under review jumped to Rs 762.81 crore, up 30.8 percent YoY as against Rs 583.17 crore in the year-ago period. Sequentially, the total income increased 11.85 percent compared to Rs 681.95 crore in the December quarter.
The bank’s gross non-performing asset (NPA) grew to 1.26 percent in the March quarter from 1.45 percent in the December quarter, but fell from 1.45 percent in the same quarter last year.
CSB Bank’s net NPA for the quarter ended in March 2023 fell to 0.35 percent from 0.42 percent in the previous quarter and from 0.68 percent in the March 2022 quarter.
Shares of CSB Bank were trading 4.93 percent lower at Rs 278.50 apiece on BSE at 2:42 PM.
