Kotak Mahindra Bank posts nearly 32 pc rise in Apr-Jun profit to Rs 1,641 cr
Private lender Kotak Mahindra Bank on Monday reported a nearly 32 per cent jump in its net profit to Rs 1,641.92 crore in the first quarter of 2021-22. The bank had posted a net profit of Rs 1,244.45 crore in the same quarter of the previous fiscal year.
Private lender Kotak Mahindra Bank on Monday reported a nearly 32 per cent jump in its net profit to Rs 1,641.92 crore in the first quarter of 2021-22. The bank had posted a net profit of Rs 1,244.45 crore in the same quarter of the previous fiscal year.
Total income during April-June 2021-22 rose to Rs 8,062.81 crore, from Rs 7,685.40 crore in Q1FY21, Kotak said in a regulatory filing.
See Zee Business Live TV Streaming Below:
However, interest income was down at Rs 6,479.78 crore during the reported quarter from Rs 6,911.86 crore in the year-ago period.
On asset front, gross non-performing assets (NPAs) rose to 3.56 per cent of the gross advances as of June 30, 2021, from 2.70 per cent on June 30, 2020.
Net NPAs or bad loans rose to 1.28 per cent from 0.87 per cent. Provisions for bad loans and contingencies were down slightly at Rs 934.77 crore in June 2021 quarter, as against Rs 962.01 crore put aside in the year-ago quarter.
Shares of the bank were trading higher by 0.77 per cent at Rs 1,736.45 apiece on BSE.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
PM Modi has invested in this post office scheme; know his total worth as per Lok Sabha elections 2024 affidavit
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
08:37 PM IST