Kotak Mahindra Bank's Q2 net profit jumps 26% to Rs 5,645 crore
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- ✓Kotak Mahindra Bank reported a 26 percent jump in consolidated net profit to Rs 5,645 crore for the quarter ending September 30.
- ✓The lender said total income reached Rs 29,426.88 crore.
- ✓Net advances grew 25 percent to Rs 5.77 lakh crore, while asset quality improved with the GNPA ratio at 1.04 percent.
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- India Economy
Kotak Mahindra Bank reported a 26 percent jump in consolidated net profit to Rs 5,645 crore in the quarter ending September 30, compared to Rs 4,468 crore in the year-ago period, the lender said in a statement on October 24. The company had reported a net profit of Rs 5,480 crore in the June quarter of the current financial year. The private lender also reported a total income of Rs 29,426.88 crore in the reported quarter. Net Interest Margin (NIM) for Q2 FY27 stood at 4.31 percent, as compared to 4.54 percent in Q2FY26 and 4.53 percent in Q1 FY27.
The moderation in NIM was largely due to the flush in liquidity caused by the FCNR-B deposits, the bank said. During the quarter, the bank mobilised foreign currency non-resident bank (FCNR-B) deposits aggregating to Rs 55,344 crore.
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