Kotak Mahindra Bank's consolidated net profit up 31% YoY in Q3

Standalone net profit up 15% YoY aided by higher NII and write back of provisions

Kotak Mahindra Bank’s consolidated net profit increased 31 per cent year-on-year (YoY) to Rs 3,403 crore in the October–December quarter (Q3) of FY22. Its net profit for the year-ago quarter stood at Rs 2,602 crore.

On a standalone basis, which reflects the bank’s lending operations, the private sector lender reported a 15 per cent YoY increase in net profit to Rs 2,131 crore in Q3FY22, beating street estimates, due to higher net interest income and write back of provisions. Bloomberg analysts had estimated a net profit of Rs 2,074 crore for the bank. In the year-ago period, the bank had reported