Kotak Mahindra Bank on Tuesday posted a marginal 5 per cent increase in its standalone profit to ₹3,344 crore in the second quarter ended in September 2024.
The private sector lender had recorded a net profit of ₹3,191 crore in the same quarter a year ago.
Total income increased to ₹15,900 crore during the quarter under review from ₹13,507 crore in the same period last year, Kotak Mahindra Bank said in a regulatory filing.
The bank earned interest income of ₹13,216 crore during the quarter compared to ₹11,193 crore in the same period a year ago.
Net Interest Income (NII) improved to ₹7,020 crore, from ₹6,297 crore in the second quarter of the previous year, registering an 11 per cent growth. However, Net Interest Margin (NIM) moderated to 4.91 per cent from 5.22 per cent at the end of the second quarter of the last financial year.
The bank was able to reduce gross Non-Performing Assets (NPAs) to 1.49 per cent of the gross loans by the end of September 2024 from 1.72 per cent a year ago.
However net NPAs or bad loans rose to 0.43 per cent from 0.37 per cent at the end of the second quarter of the previous fiscal.
On a consolidated basis, the bank logged a growth of 13 per cent in net profit to ₹5,044 crore as against ₹4,461 crore in Q2FY24.
At the consolidated level, Return on Assets (ROA) for Q2FY25 was 2.53 per cent as compared to 2.68 per cent for Q2FY24, it said.