trending Market Intelligence /marketintelligence/en/news-insights/trending/DEJb35poDC-k8jjhEE54NA2 content esgSubNav
In This List

Kotak Mahindra Bank logs 38% YOY increase in fiscal Q2 profit

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Kotak Mahindra Bank logs 38% YOY increase in fiscal Q2 profit

Kotak Mahindra Bank Ltd. reported a 38% year-over-year increase in consolidated net profit for the quarter ended Sept. 30.

The India-based bank said its after-tax net profit for the fiscal second quarter increased to 24.07 billion rupees from 17.47 billion rupees in the year-ago period. EPS rose to 12.59 rupees from 9.15 rupees, according to the bank's Oct. 22 release.

Interest earned for the quarter grew to 84.19 billion rupees from 72.85 billion rupees. Other income, including income on investments, rose to 41.24 billion rupees from 35.44 billion rupees in the year-ago quarter. Total income came to 125.43 billion rupees, up from 108.29 billion rupees.

Operating profit also increased year over year to 34.18 billion rupees from 29.10 billion rupees.

The bank booked provisions and contingencies of 4.73 billion rupees, compared to 3.60 billion rupees a year earlier.

At the end of September, Kotak Mahindra Bank's gross nonperforming assets ratio stood at 2.17%, compared to 2.02% in the previous quarter and 1.91% in the prior-year quarter. Its net NPA ratio clocked in at 0.82%, up from 0.71% in the previous quarter and 0.73% in the year-ago quarter.

Kotal Mahindra Bank's capital adequacy ratio as of Sept. 30 came to 18.15%, up from 17.80% as of June 30 and from 17.04% as of Sept. 30, 2018.

As of Oct. 21, US$1 was equivalent to 70.89 Indian rupees.