Kotak Mahindra Bank Q1 Result 26 Percent Profit In Npa

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Kotak Mahindra Bank Q1 Results: Kotak Mahindra Bank announced its April-June quarter results (Kotak Mahindra BankQ1 Result), for the financial year 2022-2023. Kotak Mahindra Bank announced that its net profit increased by 26.10% in the quarter. The bank earned a total profit Rs 2,071.10 crore. The bank also reported a net profit in the first quarter last year of Rs 1641 crore. The bank made a profit of Rs. 430 crore in this quarter than it did last year.

Profit from Interest

Kotak Mahindra Bank also saw an increase in interest income this year. This figure was Rs 3.941.70 crore last year, and has increased to Rs 4.697 crore. In such an environment, 19.20% has been recorded in net interest income (NII) of the bank.

Bank’s NPA was also improved

The bank’s non-performing assets have also declined. This year, the total NPA for the bank was Rs 6,379 crore. This is 1.40 percent lower than last year. In the first quarter of last year, the NPA was approximately Rs 6,470 crore. However, the annual NPA has increased. This has seen a 0.70 percent increase in comparison to last year. This figure was 1,737 crores last year, and has risen to Rs 1,749 in this year.

Bank’s income

In the financial year 2022-2023, Kotak Mahindra Bank earned Rs 11,658.94 Crore in income. The bank also earned 12,571.61 crores in the quarter corresponding to the previous financial year. The bank’s earnings have declined compared to last year. However, the bank’s net profit has increased due to the fact that it has reduced its expenses. The bank’s optional expenditures last year were approximately Rs 6,342.83 Crore, but this year they are only Rs 6,342.83 Crore.

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Growing bank system

The bank’s customers are steadily increasing. Last year, the bank had 2.68 crore customers. This year, it has 3.45 crore customers. It also has 1702 branches and 2761 ATMs in the country. The bank has 45 percent of its total branches located in large cities. There are 21% branches in cities, while 34% are located in small towns and villages.

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