Kotak Mahindra Bank’s Q3 report released on Saturday according to which the bank reported a 31 per cent jump in its standalone profit after tax (PAT). This brings the lender’s PAT to Rs 2,792 crore for the quarter ended December.
The lender’s operating profit was recorded at Rs 3,850 crore which is a 43 per cent hike for the quarter
Kotak Mahindra Bank’s Q3 report released on Saturday according to which the bank reported a 31 per cent jump in its standalone profit after tax (PAT). This brings the lender’s PAT to Rs 2,792 crore for the quarter ended December.
In the same quarter last year, the bank's profit stood at Rs 2131 crore. In the Q3 results for this year, the bank's net interest income increased 30 per cent on a year-on-year basis to Rs 5.653 crore.
The lender’s operating profit was recorded at Rs 3,850 crore which is a 43 per cent hike for the quarter, while net NPA (non-performing asset) reduced to 0.43 per cent as against the 0.79 per cent NPA reported in the year-ago quarter.
The bank's net interest margin rose to 5.47 per cent in Q3, compared to 4.62 per cent in the corresponding quarter the previous year. Advances stood at Rs 3,10,734 crore which is an increase of 23 per cent.