Private sector Kotak Mahindra Bank on Tuesday reported about 7 per cent decline in its web revenue to Rs 2,032 crore in second quarter ended September 2021.
The financial institution had posted web revenue of Rs 2,184 crore in the identical quarter of the earlier fiscal yr.
Total revenue throughout July-September interval of 2021-22, nonetheless, grew to Rs 8,408.87 crore, as towards Rs 8,252.71 crore in similar interval of 2020-21, Kotak Mahindra Bank stated in a regulatory submitting.
Net curiosity revenue for Q2FY22 elevated to Rs 4,021 crore from Rs 3,897 crore in Q2FY21, up 3 per cent. Net curiosity margin for the quarter was at 4.45 per cent.
On the asset entrance, financial institution’s gross non-performing belongings (or unhealthy loans) stood at 3.19 per cent by finish of September 2021 quarter, up from 2.55 per cent by finish of yr in the past interval.
Net NPAs have been at 1.06 per cent, up from 0.64 per cent
The financial institution’s provisions for unhealthy loans and contingencies for September quarter have been elevated to Rs 423.99 crore from Rs 333.22 crore parked apart in yr in the past quarter.
On a consolidated foundation, the financial institution reported marginal rise in its web revenue at Rs 2,989 crore in Q2FY22, from Rs 2,947 crore in similar quarter of earlier fiscal. Total revenue rose to Rs 15,341.65 crore for the quarter from Rs 13,548.33 crore.
“For Q2FY22, the bank’s contribution to the consolidated PAT (profit after tax or net profit) was Rs 2,032 crore. The subsidiaries and associates net contribution was 32 per cent of the consolidated PAT,” the financial institution stated in a launch.
Stock of Kotak Mahindra Bank traded at Rs 2,220.40 apiece on BSE, up 2.93 per cent from earlier shut.
