A private sector lender, Kotak Mahindra Bank, on Tuesday reported a marginal 5 per cent increase in its standalone profit to Rs 3,344 crore in the second quarter that just ended in September 2024.
In that very quarter last fiscal, the bank had netted a profit of Rs 3,191 crore.
Total income grew to Rs 15,900 crore for the quarter under review compared with Rs 13,507 crore in the same period last year, Kotak Mahindra Bank said in a regulatory filing.
Interest income also jumped to Rs 13,216 crore compared with Rs 11,193 crore in the same period a year ago.
Net interest income stood at Rs 7,020 crore, up from Rs 6,297 crore the corresponding quarter of last year, and showed an 11 per cent increase. However, net interest margin dipped to 4.91 per cent compared to 5.22 per cent at the end of the second quarter last year.
Gross NPAs, the bank said, declined to 1.49% of gross loans by September-end from 1.72% a year ago.
Net NPAs or bad loans, however, increased to 0.43% from 0.37% at the end of the second quarter of the previous fiscal.
On a consolidated basis, the bank logged a growth of 13 per cent in net profit at Rs 5,044 crore as against Rs 4,461 crore in Q2FY24.
At the consolidated level, Return on Assets for Q2FY25 was 2.53 per cent against 2.68 per cent for Q2FY24, it said.
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