Total Income for Q1 FY23 has increased by 11% YoY to ₹39,218.33 crores. Profit After Tax rose by 55% YoY to ₹7,384 crores. Total Expenditure grew by 8.32% YoY for Q1 FY 2023. Yield on total earning assets fell to 7.19% from 7.25% a year ago.
Return on Average Equity grew to 15.9% from 11.9% a year ago. In this quarter’s performance review, it is clearly visible that provisions and contingencies are the major drivers of growth in profitabilty. Provisions and Contigencies decrease by 62% YoY is the reason as to why there is an 18% jump in Operating Profits but a staggering 55% jump in PBIT & PAT.
To further read this quarter’s earnings conference call insights, check out this link.