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Business EconomyPosted at: Jul 19 2018 3:07PM


Kotak Mahindra Bank standalione Q1 net profit climbs by 12.29 percent

Mumbai, Jul 19 (UNI) Kotak Mahindra Bank ltd has reported a rise of
12.29 percent in its standalone net profit for the quarter ended
June 30,2018 at Rs 1,024.94 crore as against Rs 912.73 crores for
the quarter ended June 30, 2017.
Total Income for the under review rose by 19. 44 percent to
Rs 6,644.29 crores as compared to Rs 5,562.66 crores for the quarter
ended June 30, 2017, Bank said in a filing with BSE
The asset quality improved during the quarter. Gross non-performing
assets ratio contracted to 2.17 percent from 2.22 percent a quarter
ago. The net NPA ratio also narrowed to 0.86 percent from 0.98
percent.
Provisions, however, jumped to Rs 469.6 crore from Rs 306.9 crore.
Net interest margin falls to 4.3 percent from 4.35 percent in the
previous quarter.
The ratio of current and savings account deposits rose to 50.3
percent from 43.9 percent a year ago.
Average savings deposits grew 59 percent year-on-year to Rs 65,135
crore.
Average current account deposits rose 24 percent over the year-ago
period to Rs 26,649 crore.
On consolidated basis bank has reported a rise of 16.90 percent in
its net profit for the quarter ended June 30,2018 at Rs 1,574.48
crores as against Rs 1,346.82 crores for the quarter
ended June 30, 2017.
Consolidated Total Income for the under review rose by 15.10 percent
to Rs 9903.56 crores as compared to Rs 8604.56 crores for the
quarter ended June 30, 2017,filing added.
UNI JS NV PS 1506
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