Key Takeaways
- Kotak Mahindra Bank reported a 4.79% year-on-year rise in standalone net profit to Rs 3,342 crore for Q2 FY 2024-25.
- The bank’s Net Interest Income increased to Rs 7,020 crore for Q2 FY 2024-25.
- Kotak Mahindra Bank’s gross non-performing asset (NPA) declined to 1.49% of the gross advances for Q2 FY 2024-25.
New Delhi: Private lender Kotak Mahindra Bank on Saturday reported 4.79% year-on-year rise in standalone net profit to Rs 3,342 crore for July-September quarter (Q2) of the current financial year 2024-25.
The bank had posted a net profit of Rs 3,191 crore in the Q2 of the previous financial year 2023-24.
Net Interest Income (NII) of the bank during the September quarter of current fiscal (Q2FY25) increased to Rs 7,020 crore, up 11% from Rs 6,297 crore in the corresponding period of the previous financial year. Net Interest Margin (NIM) of the bank was 4.91% for Q2FY25.
Kotak Mahindra Bank’s gross non-performing asset (NPA) during the Q2 of current fiscal declined to 1.49% of the gross advances from 1.72% in the same period a year ago.
In absolute terms, the bank’s gross NPA or bad loans during Q2FY25 was Rs 6,033.17 crore as against Rs 6,087.23 crore in Q2FY24. The gross NPA in the previous quarter (April-June quarter of current fiscal) was Rs 5,477.15 crore.
In a media release, the bank said that its average total deposits grew to Rs 4,46,110 crore for Q2FY25 compared to Rs 3,85,950 crore for Q2FY24 registering a growth of 16% year-on-year.
“Customers as on September 30, 2024 were 5.2 crore (4.6 crore as on September 30, 2023),” it said.
During the September quarter of the current fiscal, the bank’s consolidated net profit rose 13% year-on-year to Rs 5,044 crore as compared to Rs 4,461 crore in Q2FY24.
“At the consolidated level, Return on Assets (ROA) for Q2FY25 (annualized) was 2.53% (2.68% for Q2FY24). Return on Equity (ROE) for Q2FY25 (annualized) was 13.88% (14.99% for Q2FY24),” the release said.
