Kotak Mahindra Bank Q1 profit jumps 33% to Rs 1,360 cr, gross NPA rises to 2.19%

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26 Aug, 2025 12:21

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Kotak Mahindra Bank on July 22 said its standalone profit in the April-June period grew 32.7 percent year-on-year to Rs 1,360.2 crore. The growth was largely driven by lower provisions and higher net interest income.

The profit in the corresponding quarter last fiscal stood at Rs 1,024.94 crore.

Net interest income during Q1FY20 increased 22.8 percent to Rs Rs 4,159.1 crore with loan growth of 18 percent year-on-year.

Advances increased to Rs 2.08 lakh crore in the quarter ended June 2019, from Rs 1.76 lakh crore at the end of June 2018.

Marginal moderation was witnessed in home loan (including loan against property), small business including personal loans & commercial vehicle whereas agriculture witnessed a faster traction at 22 percent YoY.

Deposit growth also remained healthy at 22.8 percent YoY, led by healthy growth of around 22.5 percent YoY in saving and 27.1 percent YoY in current deposits. Accordingly, CASA ratio stood at 50.7 percent, an increase of 40 bps YoY and decline of 180 bps QoQ.

The bank posted healthy set of numbers broadly in-line with estimates, ICICI Securities said, adding healthy set of performance reported by subsidiaries also during the quarter.

The net interest margin at 4.49 percent in Q1 was highest in last 17 quarters, growing from 4.48 percent in Q4FY19 and 4.28 percent in year-ago quarter.

On the asset quality front, gross non-performing assets as a percentage of gross advances increased 2.19 percent in Q1 against 2.14 percent in the previous quarter. Net NPA as a percentage of net advances in Q1 dropped to 0.73 percent against 0.75 percent sequentially.

Provisions and contingencies declined to Rs 316.76 crore in June quarter 2019, from Rs 469.63 crore in the corresponding period last fiscal, but sequentially the same increased from Rs 171.26 crore in March quarter.

Kotak Mahindra Bank said consolidated profit for Q1FY20 increased to Rs 1,932 crore, growing 23 percent from Rs 1,574 crore in Q1FY19.

"For Q1FY20, the bank's contribution to consolidated PAT was Rs 1,360 crore and subsidiaries and associates net contribution was 30 percent of consolidated PAT," it said.

Among subsidiaries, Kotak Life insurance recorded a 14.5 percent year-on-year growth in profit, Kotak AMC showed a 43 percent rise in profitability, and Kotak Mahindra Prime witnessed 10 percent bottomline growth but Kotak Securities profit declined 15 percent.