Kotak
Mahindra Bank : Net Profit Rs. Rs. 1,291 crore for the December quarter
Kotak Mahindra Bank on reported a 23%
year-on-year (YOY) jump in standalone profit-after-tax at Rs. 1,291 crore for the December quarter,
slightly better than Rs. 1,273 crore anticipated by analysts in an ET Now poll.
The Kotak Mahindra Bank had reported
Rs 1,053 crore profit in the corresponding quarter, last year
Net Interest Income (NII) for the
quarter rose to Rs. 2,939 crore for the quarter under review from Rs. 2,394
crore in the same quarter last year. Net Interest Margin (NIM) for the quarter
came in at 4.33%, the bank said in a BSE filing.
NIM stood at 4.27% in the year-ago
quarter.
Gross non-performing assets (NPAs)
eased to 2.07% in December quarter from 2.15% in September quarter and 2.31% in the year-ago
quarter.
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