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Published on 28/01/2022 8:01:48 PM | Source: IANS

Kotak Mahindra Bank's standalone Q3FY22 YoY net profit up 15%

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 Kotak Mahindra Bank on Friday reported a 15 per cent increase in its standalone net profit for the Q3FY22 on a year-on-year (YoY) basis at Rs 2,131 crore.

During the same period of FY21, the bank had reported a standalone net profit of Rs 1,854 crore.

Besides, Net Interest Income (NII) for Q3FY22 increased to Rs 4,334 crore, from Rs 3,876 crore in Q3FY21, up 12 per cent.

Net Interest Margin (NIM) for Q3FY22 was at 4.62 per cent.

"As at December 31, 2021, Covid-related provisions stood at Rs 1,000 crore," the bank said in the result statement.

"In accordance with Covid and MSME Resolution Frameworks announced by RBI, the Bank has standard restructured fund-based outstanding of Rs 1,364 crore as at December 31, 2021."

According to the statement, as at the December 31, 2021, GNPA was 2.71 per cent and NNPA was 0.79 per cent.

In addition, the bank reported a rise of 31 per cent in its Consolidated PAT for Q3FY22 to Rs 3,403 crore from Rs 2,602 crore reported for Q3FY21.