MUMBAI: Kotak Mahindra Bank reported a 10.22 per cent increase in its consolidated net profit for the December quarter, reaching Rs4,701 crore. The lender had posted a net profit of Rs4,265 crore in the same period last year and Rs5,044 crore in the preceding September quarter.
On a standalone basis, the bank’s net profit rose to Rs3,304 crore from Rs3,005 crore in the year-ago period but saw a slight decline compared with Rs3,343 crore in the September quarter.
The total income climbed to Rs16,050 crore from Rs14,096 crore in the corresponding period last year, while total expenses increased to Rs10,869 crore from Rs9,530 crore.
The gross non-performing assets (NPA) ratio edged up marginally to 1.50 per cent from 1.49 per cent in the preceding quarter. Meanwhile, provisions rose to Rs794 crore, compared with Rs579 crore in the same quarter last year and Rs660 crore in the September quarter.
On Friday, the Kotak Mahindra Bank stock ended 2.58 per cent lower at Rs1,758.65 on the BSE, underperforming the benchmark index, which fell by 0.55 per cent.
