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Kotak Mahindra Bank Q3 PAT up 47% at Rs 276 cr
Country's fourth largest private sector lender Kotak Mahindra Bank has reported a standalone profit after tax of Rs 276 crore in the third quarter of FY12, a massive growth of 46.8% as compared to Rs 188 crore in the corresponding quarter of last fiscal.
Country's fourth largest private sector lender Kotak Mahindra Bank has reported a standalone profit after tax of Rs 276 crore in the third quarter of FY12, a massive growth of 46.8% as compared to Rs 188 crore in the corresponding quarter of last fiscal.
Standalone net interest income moved up 21% to Rs 651 crore from Rs 537 crore during the same period. CNBC-TV18 had expected net profit of Rs 248 crore and net interest income of Rs 634 crore.
Net interest margin stood at 4.7% versus 4.8% quarter-on-quarter.
Deposits grew at 36% and advances grew at 32% in the October-December quarter.
On standalone basis, gross non-performing assets (NPAs) were unchanged at Rs 609 crore and net NPAs reported at Rs 223 crore versus Rs 210 crore quarter-on-quarter.
Segmental revenues (QoQ)
Kotak Prime's revenues increased to Rs 104 crore from Rs 90 crore and even revenues from life insurance business moved up to Rs 47 crore versus Rs 24 crore.
Kotak Investment Advisors' business grew to Rs 7 crore from Rs 6 crore.
However, income from Kotak Securities declined to Rs 24 crore from Rs 29 crore and Kotak Mahindra Capital's revenues fell to Rs 4 crore from Rs 8 crore.
Income from asset management company (AMC) too dropped to Rs 3 crore from Rs 7 crore.
