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Home / Companies / Company Results /  Kotak Mahindra Bank Q1 results: YoY net profit jumps 26.1%, NII jumps 19.2%
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Kotak Mahindra Bank Q1FY23 results: On account of big dip in provisioning of during April to June 2022 quarter, Kotak Mahindra Bank has reported big year on year jump in its net profit. The private lender has reported net profit in Q1FY23 at 2,071.10 crore, which is around 26.10 per cent higher from its net profit of 1,641.90 crore in Q1FY22.

Kotak Mahindra Bank's net interest income in the recently ended June 2022 quarter has also surged around 19.20 per cent as its NII shot from 3,941.70 crore in Q1FY22 to 4,697 crore in April to June 2022 quarter.

Total income of Kotak Mahindra Bank in first quarter of the financial year 2022-23 stands at 11,658.94 crore against 12,571.61 crore in Q1 FY22. 

The private lender has reported improvement in its net Performing Asset (NPA) as well. In April to June quarter of current financial year, Kotak Mahindra Bank's Gross NPA stands at 6,379 crore that stood at 6,470 crore in the previous quarter, which means the private lender has improved its Gross NPA by around 1.40 per cent on QoQ basis. Now, Kotak Mahindra Bank's Gross NPA stands at 2.24 per cent in in Q4FY23 against 2.34 per cent in Q4FY22.

However, its Net NPA has gone up by near 0.70 per cent from 1,737 crore in Q4FY22 to 1,749 crore in recently ended first quarter of the current fiscal. But in terms of percentage, Net NPA in Q4FY22 stands at 0.62 per cent in Q1FY2022-23 against 0.64 per cent in Q4FY22.

In the first quarter of FY 2022-23, Kotak Mahindra Bank has managed to contain its operating expenses at 4,960.01 crore against 6,342.83 crore in the first quarter of the previous fiscal.

Provisions (other than tax) and contingencies of Kotak Mahindra Bank has come down from whopping 858.67 crore in April to June 2021 quarter to 8.80 crore in recently ended June 2022 quarter.

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