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HomeBusinessKotak Mahindra Bank Q1 net up 23 per cent at Rs 912.73...

Kotak Mahindra Bank Q1 net up 23 per cent at Rs 912.73 crore

Kotak Mahindra Bank reported 23.10 per cent increase in standalone net profit at Rs 912.73 crore for the first quarter ended June 30. Net profit of the bank was at Rs 741.97 crore in the corresponding period last fiscal.

Its total income increased to Rs 5,562.66 crore for the quarter under review from Rs 5,120.03 crore a year ago, Kotak Mahindra Bank said in a regulatory filing.

Gross non-performing assets (NPAs) rose to 2.58 per cent of gross advances as of June quarter this fiscal from 2.50 per cent in the same quarter of 2016-17.

Net NPAs rose to 1.25 per cent of net advances from 1.21 per cent in the same period last fiscal.

Provisions for bad loans and contingencies were at Rs 203.74 crore for June quarter in comparison to Rs 179.51 crore in the same quarter a year ago. Shares of the bank were trading 0.48 per cent up at Rs 999.50 on BSE.

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