Kotak Mahindra logs 10% y-o-y growth in Q3 net profit

20 Jan 2025 , 08:55 AM

Kotak Mahindra Bank Ltd. reported a 10% year-on-year increase in net profit to ₹3,305 Crore for the third quarter of FY 2025. Last year, the lender made a net profit of ₹3,005 Crore. The profit amount is slightly better than the street expectation of ₹3,287.5 Crore.

The bank announced that Net Interest Income (NII) also increased by 10% y-o-y to ₹7,196 Crore compared to street estimates of ₹7,147.70 Crore.

The private sector lender’s net interest margin (NIM) came in at 4.93% for the quarter under review.

The lender stated that asset quality remained under stress. Its Gross NPA stood at 1.50% against 1.49% in the previous quarter. On the other hand, Net NPA stood at 0.41%.

CASA deposits climbed by 15% year on year to ₹4.58 Lakh Crore, with a CASA ratio of 42.3% for the quarter.

The operating profit of the bank for the quarter under review was reported at ₹5,181 Crore in Q3FY25 against ₹4,566 Crore in the previous corresponding quarter. For YTD, profit increased to ₹15,534 Crore, locking growth of 10% y-o-y, against ₹14,126 Crore in the previous corresponding quarter.

Lender’s credit-deposit ratio for the December quarter was reported at 87.40%.

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