Kotak Mahindra Bank Q2: Profit jumps 27% to ₹2,580 cr, NII rises 26%
1 min read . Updated: 22 Oct 2022, 02:48 PM IST
Premium- Kotak Mahindra Bank's net interest income (NII) was up by 26 per cent at ₹5,099 crore
Kotak Mahindra and on Saturday reported 27 per cent year-on-year (YoY) rise in consolidated profit to ₹2,580.68 crore for the September quarter. The company reported net profit of ₹2,032.01 crore in the year-ago period.
Kotak Mahindra Bank's net interest income (NII) was up by 26 per cent at ₹5,099 crore for quarter ended September 20, 2022 as against ₹4,021 crore in the year-ago period.
Gross NPAs slipped to 2.08% during the said quarter from 2.24% in the June 2022 quarter and 3.19% in the September 2021 quarter.
Kotak Mahindra Bank's net interest margin (NIMs) at 5.17 per cent for Q2FY23, which was 4.45 per cent in the year-ago period.
Net NPAs rose to 0.55 per cent in Q2FY23. It was 0.62 per cent in the preceding quarter and 1.06 per cent in Q2FY22.
Total provisions dropped on yearly basis to ₹136.5 crore in the quarter from ₹435.25 crore in the year-ago period.
Kotak Mahindra Bank said in a regulatory filing this week that it would consider fund raising by issuing non-convertible debentures.
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Kotak Mahindra shares were up by 2.05 per cent to ₹1,902.90 on BSE.
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