₹3,706 crores, marking a 21 per cent increase year-over-year (YoY), for the quarter ending March 31, 2024, on May 4. However, the Profit After Tax (PAT) experienced a slight downturn by 10 per cent YoY, settling at ₹619 crores, attributed to a 14% increase in Net Interest Income (NII) which stood at ₹1,971 crores. The Net Interest Margin (NIM) remained fairly stable at 7.1%.
The reported disbursements for the quarter saw an 11% rise, totalling ₹15,292 crores, and the Gross Loan Book grew by an impressive 24% YoY to ₹1,02,597 crores. The company also showed marked improvement in asset quality, with a significant reduction in Stage 3 assets to 3.4%, down from 4.0% in December 2023. Credit costs for the year were maintained within the targeted range of 1.5% - 1.7%, indicative of effective risk management strategies.
In its consolidated results, the company posted a total income of ₹4,333 crores for the fourth quarter, up by 23% YoY, and a marginal decrease in PAT by 1%, amounting to ₹671 crores. The consolidated disbursements also noted an increase of 11% YoY, reaching ₹16,174 crores. The company's strategic initiatives included bolstering its presence in vehicle finance, particularly in pre-owned vehicle finance, which grew by 18% during FY24.
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