Kotak Mahindra Bank has reported a steady increase in its net profit for the second quarter of FY25, with a 5% year-on-year (YoY) growth. The bank’s net profit for the quarter ending September 30, 2024, stood at ₹3,343.72 crore, up from ₹3,190.97 crore in the corresponding quarter of the previous fiscal year.
This growth in profit was driven by a rise in interest income, which saw a 15% YoY increase to ₹13,126.27 crore. The bank’s operating profit before provisions also remained strong, coming in at ₹5,099.25 crore, reflecting the bank’s consistent performance.
However, provisions for the quarter increased to ₹660.39 crore from ₹366.55 crore in the same period last year, indicating a cautious approach to potential risks in the loan portfolio.
The bank’s capital adequacy ratio under Basel III stood at a healthy 22.61%, ensuring sufficient capital buffer to absorb any future shocks.
Kotak Mahindra Bank’s consistent profitability amid challenging market conditions showcases its resilience and strong risk management practices.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.
