Kotak Mahindra Bank on Tuesday said its consolidated net profit for the quarter ended December 31 rose 25 per cent from a year earlier to Rs 577 crore, aided by growth in banking, securities and asset management businesses.
The consolidated net interest margin declined marginally to 4.6 per cent from 4.7 per cent in the same period. On a standalone basis, profit after tax expanded 31 per cent year-on-year to Rs 362 crore. The growth in earnings was driven by rise in net interest income, which grew 26 per cent from a year ago at Rs 823 crore. The capital adequacy ratio was 15.6 per cent, while its Tier-I ratio was 14.2 per cent. The bank had 407 branches at 239 locations and 907 ATMs as of December-end. Total assets were estimated at Rs 56,484 crore. The stock broking arm, Kotak Securities, saw net profit rise to Rs 38 crore from Rs 24 crore a year earlier. Profit after tax of Kotak Mahindra AMC & Trustee Company rose to Rs 11 crore while net profit of Kotak Mahindra Investments went up to Rs 8 crore.
