Kotak Mahindra and Mahindra on Saturday reported a year-on-year (YoY) growth of 27 per cent in consolidated profit 2,580.68 crore for the September quarter. The company recorded a net profit of 2,032.01 crore in the year-ago period.
Kotak Mahindra The net interest income (NII) of the bank grew by 26 percent 5,099 crore for the quarter ended September 20, 2022 4,021 crore in the year-ago period.
Gross NPAs declined to 2.08% during the said quarter from 2.24% in the June 2022 quarter and 3.19% in the September 2021 quarter.
Kotak Mahindra The bank’s net interest margin (NIM) for Q2FY23 stands at 5.17 per cent, as against 4.45 per cent in the year-ago period.
Net NPAs rose to 0.55 per cent in Q2FY23. It was 0.62 per cent in the previous quarter and 1.06 per cent in the second quarter of FY22.
Total Provisions Deducted on Annual Basis 136.5 crore in the quarter from 435.25 crore in the year-ago period.
Kotak Mahindra Bank said in a regulatory filing this week that it will look to raise funds by issuing non-convertible debentures.
Kotak Mahindra shares up 2.05 per cent 1,902.90 on BSE.
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