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Tuesday, January 22, 2013

Kotak Mahindra Bank standalone net jumps 31% in Q3

Kotak Mahindra Bank has reported a 31 per cent increase in its standalone net profit at Rs 362 crore in the October-December quarter of 2012-13 fiscal.

The private sector lender had posted a net profit of Rs 276 crore in the year-ago period.

Net interest income (difference between interest earned and expended) rose 26 per cent to Rs 822.85 crore (651 crore in Q3FY’12). Other income was up 8 per cent at Rs 305 crore compared with Rs 282 crore in the corresponding quarter.

Percentage of net non-performing assets (NPAs) increased to 0.64 per cent from 0.56 per cent. Total provisions increased to Rs 42 crore (Rs 31 crore).

Consolidated results

Consolidated net profit jumped 25 per cent to Rs 577 crore in the third quarter under review compared with Rs 463 crore in the same quarter last fiscal.

NII was up 23 per cent to Rs 1,232 crore (Rs 1,000 crore).


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