Kotak Mahindra Net Profits Rise 20% YoY; NPA Improves

The private sector lender reported its Q2 results with a YoY increase in net profits to the tune of Rs 1,440.68 crore, which is an over 19% increase. The net interest income of the bank also increased in the quarter ending September from Rs 2,664.21 crore a year ago to Rs 3,085.26 crore in Q2FY18.

The asset quality of the bank measured in terms of non performing assets also showed improvement. Net NPAs to net advances ratio inched a point higher to 1.08% as against 1.07% in the previous quarter.

The net profit on a standalone basis of the bank increased by 22.25% to Rs 994.31 crore in Q2FY18 as against Rs 813.29 crore in the corresponding period in the fiscal year gone by.

Meanwhile, the stock of the lendder after all the recapitalization buzz in the public sector banking space was seen trading lower by 5%.
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