Kotak Mahindra Bank Q2 results FY27: Kotak Mahindra Bank on Saturday reported a 29.48 per cent YoY rise in standalone net profit to Rs 4,212 crore for the July-September quarter of FY27. The private sector lender had posted a net profit of Rs 3,253 crore in the corresponding quarter last year. Analysts had estimated the bank’s profit at Rs 4,128 crore.
Kotak Mahindra Bank Q2 results FY27
The bank’s performance was supported by growth in net interest income and other income, while its asset quality improved during the quarter. Gross and net non-performing assets (NPAs) declined both YoY and sequentially, indicating an improvement in the bank’s loan portfolio.
The bank’s net profit increased 2.16 per cent from Rs 4,123 crore in the June quarter. Total income rose 17.88 per cent YoY to Rs 19,141 crore. On a QoQ basis, total income increased 7.44 per cent.
Net interest income (NII), which represents the difference between interest earned on loans and investments and interest paid on deposits and borrowings, grew 15.70 per cent YoY to Rs 8,458 crore. This was higher than the estimated Rs 8,289 crore. Sequentially, NII increased 6.69 per cent.
Interest income rose 16.84 per cent YoYto Rs 15,947 crore, exceeding the estimated Rs 15,165 crore. Meanwhile, interest expenses increased 18.14 per cent to Rs 7,489 crore.
Kotak Mahindra Bank’s other income grew 23.33 per cent YoY to Rs 3,193 crore. However, it declined 4.34 per cent from Rs 3,338 crore in the previous quarter.
Operating expenses increased 13.80 per cent YoY to Rs 5,270 crore. Despite the rise in costs, profit before provisions and taxes climbed 21.15 per cent to Rs 6,382 crore.
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