Kotak Mahindra makes net profit of Rs 1,124 crore in Q4

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Kotak Mahindra Bank announced its Q4 results on Monday.

The net profit of the bank stood at Rs 1,124 crore, slightly missing the estimate of the CNBC-TV18 poll of Rs 1,163 crore.

The standalone net interest income was Rs 2,580 crore, beating the estimate of Rs 2,528.1 crore.

The net NPA stood at 0.98% as against the 1.09%, on a quarter-on-quarter basis, while the gross NPA was at 2.22% as against the 2.31% posted in the previous quarter.

#4QWithCNBCTV18 | Kotak Mahindra Bank Q4 standalone net profit up 15% at Rs 1,124 cr vs Rs 976.5 cr (YoY) pic.twitter.com/snd0PTyZU6

— CNBC-TV18 (@CNBCTV18Live) April 30, 2018

The net NPA in numbers, stood at Rs 1,665 crore as against last quarter’s Rs 1,728 crore.

The consolidated net profit (GU) stood at 27.4%, Rs 1,789 crore as against Rs 1,404 crore posted in the previous year. The Net Interest Margin was at 4.35% versus the 4.20% posted in the previous quarter.

The loan growth was posted at 24.7%, based on a year-on-year basis.

For the provisions, the bank said that it stood at Rs 307 crore as against Rs 213 crore in last quarter and the Rs 267.4 crore posted last year.

The bank has redesignated Uday Kotak as their managing director and chief executive, with effect from May 1, 2018.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow