Kotak Mahindra Bank Q3 net profit rises 10 pc at Rs 4,701 cr

Mumhai, Jan 18 (PTI) Kotak Mahindra Bank on Saturday reported a 10.22 per cent rise in its December quarter consolidated net profit to Rs 4,701 crore.

The city headquartered lender had reported a net profit of Rs 4,265 crore in the year-ago period and Rs 5,044 crore in the preceding September quarter.

On a standalone basis, the private sector lender’s net profit increased to Rs 3,304 crore from Rs 3,005 crore in the year-ago period but was marginally down when compared with the September quarter’s Rs 3,343 crore.

The total income increased to Rs 16,050 crore from Rs 14,096 crore in the year-ago period, while the expenses came at Rs 10,869 crore against Rs 9,530 crore.

The gross non-performing assets ratio inched up to 1.50 per cent from 1.49 per cent three months ago.

The overall provisions increased to Rs 794 crore from Rs 579 crore in Q3 FY24 and Rs 660 crore in Q2 FY25.

The Kotak Mahindra Bank scrip had closed 2.58 per cent down at Rs 1,758.65 apiece on the BSE on Friday against a 0.55 per cent correction on the benchmark.