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Kotak Mahindra Bank Q1 net up 23% to ₹913 cr

Kotak Mahindra Bank Q1 net up 23% to ₹913 cr

Kotak Mahindra Bank on Thursday 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 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.

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