Kotak Mahindra Bank Q4 net profit jumps 14% to ₹4,566 cr
PTI | | Posted by Singh Rahul Sunilkumar
Kotak Mahindra Bank on Saturday posted a 14.29 per cent increase in its consolidated net profit at ₹4,566 crore for the March 2023 quarter.
The private sector lender’s standalone net profit grew to ₹3,496 crore for the January-March 2023 period against ₹2,767 crore in the year-ago period.
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For FY23, the bank’s consolidated net profit rose 23 per cent to ₹14,925 crore.
Its core net interest income came at ₹6,103 crore compared to ₹4,521 crore, helped largely by an expansion in the net interest margin to an impressive 5.75 per cent.
It showed an improvement in the asset quality, with the gross non-performing assets ratio improving to 1.78 per cent from 2.34 per cent in the year-ago period and 1.90 per cent in the preceding quarter.
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