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Kotak Mahindra Bank Q3 net grows 35% to Rs 1,267 crore


Private lender Kotak Mahindra Bank today posted a 35% increase in net profit at Rs 1,266.5 crore for the third quarter ended December 2016.

The bank had recorded a consolidated net profit of Rs 938.31 crore for October-December of the previous fiscal, Kotak Mahindra Bank said in a statement.

Total income rose to Rs 7,670 crore during the quarter under review as against Rs 6,950.41 crore a year ago.

On standalone basis, the bank saw a 39% rise in net profit at Rs 879.76 crore for the December quarter as against Rs 634.72 crore in the same period a year earlier.

During the third quarter, the gross non-performing assets (NPAs) of the bank increased to 2.42% of the total advances, from 2.01% at the end of the third quarter of 2015-16.

The net NPAs also rose to 1.07% from 0.85% of the total assets.