Profit

Kotak Mahindra Bank Q2 Profit Jumps 22%

Kotak Mahindra Bank's profit rose to Rs 9.94 billion in the September quarter, from Rs 8.13 billion a year earlier

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Kotak Mahindra Bank Q2 Profit Jumps 22%

Kotak Mahindra Bank's net interest income rose 16 per cent in Q2

Mumbai: Kotak Mahindra Bank, India's fourth-largest private sector lender by assets, posted a 22 per cent rise in second-quarter profit on Wednesday, helped by higher interest income and lower bad loans ratio.

Net profit rose to Rs 9.94 billion in the quarter ended September 30, from Rs 8.13 billion a year earlier, the Mumbai-based bank said. 

That matched the average analysts' estimate of Rs 9.94 billion, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans stood at 2.47 per cent at end-September, compared with 2.58 per cent a quarter earlier and 2.49 per cent a year earlier.

Net interest income rose 16 per cent to Rs 23.13 billion in the quarter.

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