Business EconomyPosted at: Jan 18 2025 3:24PM


Kotak Mahindra Bank logs 10 pc rise in Q3 profit at Rs 4,701 crore

New Delhi, Jan 18 (UNI) Private lender Kotak Mahindra Bank on Saturday reported 10.22% year-on-year rise in consolidated net profit at Rs 4,701.02 crore for October-December quarter (Q3) of the current financial year 2024-25.
The bank had posted a profit of Rs 4,264.78 crore in the Q3 of the previous financial year 2023-24.
Kotak Mahindra Bank reported 14.75% increase in interest earned during the Q3 of the current financial year at Rs 16,633.14 crore as against Rs 14,494.96 crore in the corresponding period of the previous year.
The gross non-performing assets (GNPA) of the bank stood at Rs 7,218.17 crore in the December quarter of the current fiscal as compared to Rs 6,834.74 crore in the previous quarter. The gross NPA ratio of the bank was 1.51% in the Q3FY25 as compared to 1.48% in the previous quarter.
In the Q3 of the previous financial year 2023-24, the bank's NPA ratio had stood at 1.68%.
The bank's net NPA (NNPA) ratio was 0.44% in Q3FY25 as against 0.45% in the previous quarter and 0.36% in the corresponding quarter a year ago.
On a standalone basis, Kotak Mahindra Bank's profit increased to Rs 3,305 crore in Q3FY25 from Rs 3,005 crore in Q3FY24 thus registering 10% year-on-year growth.
Net Interest Income (NII) of the bank for Q3FY25 increased to Rs 7,196 crore, from Rs 6,554 crore in Q3FY24.
"As at December 31, 2024, GNPA was 1.50% and NNPA was 0.41% (GNPA was 1.73% and NNPA was 0.34% at December 31, 2023)," Kotak Mahindra Bank said in a media release.
Average total deposits of the bank grew to Rs 458,614 crore for Q3FY25 compared to Rs 398,908 crore for Q3FY24, up 15% year-on-year.
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