The lender had reported Rs 1,441 crore profit in the corresponding quarter last year.
By ETMarkets.com | Updated:
Q2 results: Kotak Mahindra Bank rises 21% YoY to Rs 1,747 cr
NEW DELHI: Kotak Mahindra Bank on Wednesday reported a 21 per cent year-on-year (YoY) rise in consolidated net profit at Rs 1,747 crore for the September quarter.
The number included Rs 1,142 crore (up 14.88 per cent YoY) contribution from the banking activity. Subsidiaries & associates accounted for 35 per cent of the consolidated PAT, the bank said in a BSE filing.
The lender had reported Rs 1,441 crore profit in the corresponding quarter last year.
Total assets managed by the group rose 18 per cent YoY to Rs 1,99,382 crore at the end of the second quarter from Rs 1,69,214 crore in the year-ago quarter.
On a standalone basis, the bank reported a 16.25 per cent YoY rise in net interest income (NII) at Rs 2,689 crore for September quarter. This is against Rs 2,313 crore NII the bank reported in the year-ago quarter.
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Net Interest Margin (NIM) for the bank came in at 4.2 per cent for the quarter, the bank said in a BSE filing. NIM for the year ago quarter stood at 4.4 per cent. Gross non-performing asset (NPA) for the quarter at 2.15 per cent was lower than 2.17 per cent in June quarter and 2.47 per cent in the year-ago quarter.
The bank said it met its target of doubling its customers to 16 million in 18-months ending September 30 from 8 million customers at the time of the launch of 811.
The bank has a network of 1,425 full-fledged branches and 2,236 ATMs.
