Overview
- Reported net profit rose about 10% year on year to ₹20,160 crore, boosted by a ₹4,593 crore gain from selling a Yes Bank stake as net interest income grew 3% to ₹42,985 crore.
- Net interest margin ticked up sequentially by an estimated 3–7 basis points, with brokers noting resilience even on a core basis.
- Credit expanded roughly 13% year on year and deposits grew 9%, taking total business past ₹100 trillion with advances at ₹44.20 lakh crore and deposits at ₹55.92 lakh crore.
- Asset quality strengthened, with GNPA/NNPA improving to 1.73%/0.42% and the gross slippage ratio falling to 0.48% as the SMA book contracted.
- Shares hit record levels and year-to-date gains topped 20% as JM Financial set a ₹1,105 target and Nirmal Bang moved to ₹1,195, even as higher GST and tech costs pushed adjusted PAT down 13% quarter on quarter.