Kotak Mahindra Bank consolidated Q1 net up 17% to Rs 15.74 bn

Total income up 15% YoY to Rs 99 bn; Gross NPA at 1.93% for the quarter, against 2.24% a year ago and 1.95% in the immediately preceding quarter ended March 2018

Private lender Kotak Mahindra Bank reported 17 per cent rise in its fiRs t quarter (Q1) consolidated net profit on account of higher interest and fee income. The asset quality of the bank’s loan book also improved during the quarter.

Profit after tax at the consolidated level rose to Rs 15.74 billion for the quarter ended June 2018, from Rs 13.47 billion in the year-ago period.

Total consolidated income rose 15 per cent year-on-year (YoY) to Rs 99 billion.

At the standalone level, the bank reported a 12.3 per cent rise in net profit to Rs 10.25 billion, against Rs 9.13 billion in