Financial Insights

Kotak Mahindra Bank profits rise 15%: Q3 results

Kotak Mahindra Bank saw a 31% increase in consolidated net profits as it touched Rs 3,403 crores against Rs 2,602 crores for the corresponding period last year. On a standalone basis, its profits rose 15% as it reached Rs 2,131 crores, surpassing the estimates.

Its Net Interest Income rose 12% as Rs 4,334 crores while its Net Interest Margin rose to 4.62%, up 17 bps. Its gross NPA ratio and Net NPA ratio fell to 2.5% and 0.5% respectively. The bank’s expenses rose 10% to Rs 5,559 crores in the quarter ended on December 2021. Its advances rose 18% to Rs 2.5 lakh crore while its Net NPA fell to 0.79%.

The bank’s CASA ratio stood strong at 60.44% while the share saw an upward movement of 2%.

Highlight by Aman Agarwal.

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