The bank's net profit in the June quarter of 2014-15 stood at Rs 21.43 crore.
Higher earnings from corporate, wholesale and retail banking contributed to the profit rise.
The bank's income too rose to Rs 2,356.30 crore during the quarter under review, from Rs 2,263.29 crore in the same period a year ago, it said in a filing to BSE.
However, the bank had to keep aside Rs 216.30 crore towards provisions and coverage as against Rs 163.25 crore a year earlier.
Net NPAs rose to 3.65 per cent of net advances, from 3.87 per cent in the first quarter a year ago.
The stock closed at Rs 42.65 on BSE yesterday, down 1.73 per cent.
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