Q2 results: Kotak Mahindra Bank profit rises 14.8%, but misses estimates
Net profit was Rs 1,142 crore for the quarter ended 30 September, compared with Rs 994 crore a year earlier
Mumbai: Kotak Mahindra Bank Ltd posted a 14.8% rise in second-quarter net profit on Wednesday, boosted by higher interest and fee income, but missed analysts’ expectations.
Net profit was Rs 1,142 crore ($155.84 million) for the quarter ended 30 September, compared with Rs 994 crore a year earlier, the Mumbai-based private sector lender said in a statement.
Analysts on average had expected a profit of Rs 1,165 crore, according to I/B/E/S data from Refinitiv.
Gross bad loans as a percentage of total loans stood at 2.15% at the end of September, compared with 2.17% a quarter earlier and 2.47% a year earlier.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
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