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Kotak Mahindra Bank Q2 net up 27%

Kotak Mahindra Bank standalone net profit grew by 27 per cent to Rs 2,581 crore in the quarter ended September 2022 from Rs 2,032 crore in the year-ago period.

Net interest income (NII) for the second quarter increased to Rs 5,099 crore from Rs 4,021 crore in the corresponding quarter of the previous fiscal. Net interest margin (NIM) improved to 5.17 per cent from 4.45 per cent.

Gross NPA reduced to 2.08 per cent from 3.19 per cent. Net NPA declined to 0.55 per cent from 1.06 per cent.

The bank’s advances grew by 25 per cent to Rs 2,94,023 crore.

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