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Kotak Bank Q2 net profit rises 28% to Rs 1,202 crore

The group has posted profit after tax of Rs 942 crore in July-September of 2015-16.


Kotak Bank Q2 net profit rises 28% to Rs 1,202 crore

Mumbai: Private player Kotak Mahindra Bank on Tuesday reported a 28 percent rise in consolidated net profit at Rs 1,202 crore for the second quarter ended September 2016.

The group has posted profit after tax of Rs 942 crore in July-September of 2015-16.

Consolidated total income stood at Rs 8,415 crore for the second quarter of the current fiscal as against Rs 6,729 crore in the year-ago period.

On stand-alone basis, Kotak Mahindra Bank posted a 43 percent jump in net profit at Rs 813 crore for the quarter under review compared with a profit of Rs 570 crore in the last fiscal.

Total income of KMB stood at Rs 5,244 crore for the quarter as against Rs 4,621 crore in the same quarter last fiscal.

Gross non-performing assets as a percentage of gross advances rose to 2.49 percent compared with 2.35 percent in the same period a year ago.

From Zee News

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