Kotak Mahindra Bank on Monday reported a decline of 8.5% in its standalone net profit at ₹1,244 crore for the quarter ending 30 June, 2020. It was ₹1,360 crore in the year-ago period.
The bank witnessed 41% drop in its other income at ₹773.5 crore as against ₹1,317 crore in June 2019.
Total income (standalone) too declined to ₹7,685.40 crore in April-June quarter of 2020-21, over ₹7,944.61 crore in the same period of 2019-20, Kotak Mahindra Bank said in a regulatory filing.
The lender saw rise in NPAs on all fronts on both sequential basis and annual basis.
The gross non-performing assets ratio widened to 2.7% from 2.19% a year ago and 2.25% in the previous quarter.
Percentage of net NPAs increased to 0.87% from 0.71% in March quarter and 0.73% a year ago.
Kotak Mahindra Bank - Stock Price past 1 year
(Source www.nseindia.com)
Kotak Mahindra Bank - Stock Price past 5 years
(Source www.nseindia.com)
