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Net profit was 10.25 billion rupees for the three months ended June 30, compared with 9.13 billion rupees a year ago, the lender, led by Asia’s richest banker Uday Kotak, said in a statement.
Reuters
Updated:July 19, 2018, 1:12 PM IST
A man walks past the Kotak Mahindra Bank branch in New Delhi. (Image: Reuters)
Net profit was 10.25 billion rupees for the three months ended June 30, compared with 9.13 billion rupees a year ago, the lender, led by Asia’s richest banker Uday Kotak, said in a statement.
Analysts had on average expected a net profit of 11.67 billion rupees for the second most valuable listed lender in India, with a market capitalisation of about $39 billion.
Gross bad loans as a percentage of total loans fell to 2.17 percent at end-June, compared with 2.22 percent in the preceding quarter and 2.58 percent a year ago.
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Source: News18