Kotak Mahindra Bank Q3 Results: The lender s Net interest income, the difference between interest earned and interest expended, rose nearly 16% YoY to Rs 6,553.52 crore. The moderate growth in the bottomline was partially due to a sharp jump in the provisions during the quarter under review.
The bank garnered a standalone net profit of ₹2,791.88 crore in Q3 of the current fiscal FY23 compared to ₹2,131 .36 crore a year ago same quarter, registering a growth of a whopping 30.99% year-on-year.
Kotak Mahindra Bank profit rises 16% to Rs 1,853.5 crore in Q3
Private lender s net interest income for Q3 grew 17 per cent to Rs 4,007 crore, from Rs 3,430 crore in Q3FY20. As of December, Kotak Mahindra s gross NPA was 2.26 per cent and NPA was 0.50 per cent
Manoj Sharma | January 25, 2021 | Updated 16:15 IST
Kotak Bank share closed at Rs 1,792.95, around 1.92 per cent or Rs 35.05 down, on NSE
Kotak Mahindra Bank has reported net profit of Rs 1,853.5 crore, posting a 16 per cent increase from Rs 1,596 crore during the same period last year, the bank informed stock exchanges today.
Private lender s net interest income(NII) for Q3 increased to Rs 4,007 crore, from Rs 3,430 crore in Q3FY20, up 17 per cent. Net Interest Margin(NIM) for Q3 FY21 was at 4.51 per cent. The bank s CASA (current and savings account) ratio as on December 31, 2020, stood at 58.9 per cent, compared to 53.7 per cent as on December 31, 2019.