Wednesday, August 4, 2021
HomeUncategorizedKotak Mahindra Bank Q4 net at Rs. 665 crore, meets expectation

Kotak Mahindra Bank Q4 net at Rs. 665 crore, meets expectation

Kotak Mahindra Bank on Wednesday reported a consolidated net profit of Rs. 663 crore in the fourth quarter almost flat against Rs. 665 crore in the corresponding quarter of the previous fiscal.

Net Interest Income, or interest earned over interest paid, grew 12 per cent to Rs. 1,484 crore compared to Rs. 1,321 crore in the same quarter previous year.

The private lender’s net interest margin, a gauge of profitability, stood at 4.97 per cent, while its non-performing asset came at 0.88 per cent.

The lender’s standalone net profit (from banking business) dropped 7 per cent to Rs. 407 crore against estimates of Rs. 380 crore.

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