Kotak Mahindra Bank Q3 net profit up 25% at Rs 577 cr

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Kotak Mahindra Bank's net interest margin, a key gauge of profitability, however, declined slightly to 4.6 per cent. (Reuters) Kotak Mahindra Bank's net interest margin, a key gauge of profitability, however, declined slightly to 4.6 per cent. (Reuters)
SummaryIts profit in the same quarter of the previous fiscal stood at Rs 462.63 crore.

Kotak Mahindra Bank today said its net profit rose by nearly 25 per cent to Rs 577.21 crore for the third quarter ended December 2012.

Its profit in the same quarter of the previous fiscal stood at Rs 462.63 crore.

Total income of the bank during October-December quarter of 2012-13 stood at Rs 4,157.12 crore from Rs 3,123.31 crore in the previous fiscal, it said in a BSE filing.

Income from other sources of the private bank increased to Rs 500.14 crore from Rs 490.18 crore over the same period of the previous fiscal, it added.

The bank's net interest margin, a key gauge of profitability, however, declined slightly to 4.6 per cent in the third quarter from 4.7 per cent a year ago, it said.

Also, the non-performing assets or bad loans of the bank increased to 0.53 per cent from 0.41 per cent a year earlier. Net NPA as of December 31, 2012 stood at Rs 364.80 crore from Rs 246.53 crore in 2011-12, it said.

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