New Delhi, Oct 19 (IANS) Kotak Mahindra Bank on Saturday reported net profit of Rs 3,344 crore in the July-September period (Q2 FY25), up 5 per cent from Rs 3,191 crore in the same quarter last fiscal.
Consolidated profit after tax (PAT) for Q2 FY25 was Rs 5,044 crore, up 13 per cent (year-on-year) from Rs 4,461 crore in the same quarter last year, the bank said in its regulatory filing.
The bank reported net interest income for the quarter to Rs 7,020 crore, from Rs 6,297 crore in Q2 FY24, up 11 per cent YoY.
The total assets under management (AUM) were Rs 680,838 crore — up 37 per cent YoY over Rs 498,342 crore (as on September 30). Kotak Asset Management, the fifth largest AMC, saw its domestic mutual fund equity AUM increase by 60 per cent YoY to Rs 319,161 crore.
According to the bank, average total deposits grew to Rs 446,110 crore for Q2 FY25, compared to Rs 385,950 crore for Q2 FY24 which is up 16 per cent YoY. Average current deposits grew to Rs 61,853 crore compared to Rs 58,351 crore in last year’s quarter, which is a 6 per cent YoY growth.
“Average savings deposits grew to Rs 124,823 crore for Q2FY25 compared to Rs 121,967 crore for Q2FY24, up 2 per cent YoY. Average term deposits grew to Rs 259,434 crore for Q2FY25, compared to Rs 205,632 crore for Q2FY24, up 26 per cent YoY,” said Kotak Mahindra Bank.
As on September 30, gross non-performing assets (GNPA) were 1.49 per cent and net performing assets (NNPAs) were 0.43 per cent (GNPA was 1.72 per cent and NNPA was 0.37 per cent on September 30, 2023). Standalone return on assets (ROA) for Q2 FY25 (annualised) was 2.17 per cent (2.45 per cent for Q2 FY24), the bank said.
The bank’s share closed 0.42 per cent up at Rs 1,871.85 apiece on Friday.
–IANS
na/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
