Kotak Mahindra Bank FY25 Q2 Results: Kotak Mahindra Bank released the results for the second quarter ending September 30, 2024 on Saturday. In the second quarter of the current financial year i.e. July-September 2024, the standalone net profit of Kotak Mahindra Bank increased by 5 percent to Rs 3,344 crore. Whereas in the same quarter a year ago, the bank’s profit was Rs 3,191 crore.
surge in net interest income
In the information given to the stock market on Saturday, Kotak Mahindra Bank said that during the September quarter, the total income of the bank increased to Rs 15,900 crore, which was Rs 13,507 crore in the September quarter of the last financial year. During this period, the interest income of the bank increased to Rs 13,216 crore, which was Rs 11,193 crore in the same quarter last year. Net interest income (NII) increased by 11 percent to Rs 7,020 crore, from Rs 6,297 crore in the same quarter a year ago.
Also read: HDFC Bank FY25 Q2 Results: HDFC Bank’s profit increased by 5% to Rs 16821 crore, NII increased by 10%
Increase in bank’s bad loans
However, the Net Interest Margin (NIM) declined to 4.91 percent, which was 5.22 percent till the second quarter of the last financial year. By the end of September 2024, the bank’s gross non-performing assets (NPAs) reduced to 1.49 percent, which was 1.72 percent at the same time a year ago. However, net NPA i.e. bad loans increased to 0.43 percent, which was 0.37 percent at the end of the second quarter of the last financial year.
In the second quarter of the current financial year, the consolidated net profit of Kotak Mahindra Bank increased by 13 percent to Rs 5,044 crore, which was Rs 4,461 crore in the same quarter a year ago. The bank stated thatReturn on Assets (ROA) was 2.53 percent in the second quarter of the financial year 2024-25, whereas it was 2.68 percent in the same quarter last year.