Kotak Mahindra Bank Q1 results: Net profit down 47% YoY to Rs 3,282 crore, GNPA at 1.48% vs 1.39% QoQ
Net Interest Income (NII) grew 6% YoY to Rs 7,259 crore from Rs 6,843 crore, reflecting steady growth in lending and core banking operations. Total income rose to Rs 16,916 crore from Rs 15,675 crore YoY.
Operating profit (before provisions) rose to Rs 5,563.69 crore from Rs 5,254.11 crore in the previous year. Provisions and contingencies, however, jumped to Rs 1,207.76 crore from Rs 578.48 crore YoY, impacting the bank's profitability.
Asset quality weakened slightly: Gross NPA: Rs 6,637.70 crore (1.48%) vs Rs 5,477.15 crore (1.39%) QoQ
Net NPA: Rs 1,530.93 crore (0.34%) vs Rs 1,376.33 crore (0.35%) QoQ
Despite steady growth in core income, the YoY profit decline was driven by the high base effect of last year's Rs 3,519.90 crore exceptional gain.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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