Kotak Mahindra Bank on January 18 reported a 10 percent rise in its net profit at Rs 4,701.02 crore in the third quarter of FY25, compared to Rs 4,264.78 crore in the year-ago period, the lender said in an exchange filing. However, the net profit declined close to 7 percent sequentially from Rs 5,044.05 crore in the September quarter.
The interest earned by the bank in the reported quarter rose 14.75 percent to Rs 16,633.14 compared to Rs 14,494.96 crore in the same period of the previous financial year, the filing showed. In the second quarter, the interest earned stood at Rs.16,426.97 crore, according to the stock filing.
Also Read - Quarterly Results of all banks for Q3FY25
Gross non-performing asset (NPA) ratio was 1.51 percent as on December 31, 2024, as compared to 1.48 percent as on September 30, 2024, and 1.68 percent on December 31, 2023. Net NPA ratio was 0.44 percent as on December 31, 2024, as compared to 0.45 percent as on September 30, 2024, and 0.36 percent on December 31, 2023.
In absolute terms, gross NPA of the bank stood at Rs 7,218.17 crore as on December 31, 2024, as compared to Rs 6,834.74 crore as on September 30, 2024, and Rs 6,981.15 crore as on December 31, 2023. Net NPA of the bank stood at Rs 2,070.42 crore as on December 31, 2024, as compared to Rs 2,066.51 crore as on September 30, 2024, and Rs 1,487.03 crore as on December 31, 2023. As at December 31, 2024, Provision Coverage Ratio stood at 73 percent.
Net Interest Income (NII) for Q3FY25 increased to Rs 7,196 crore, from Rs 6,554 crore in Q3FY24, up 10 percent on-year and for 9MFY25 increased to Rs 21,058 crore, from Rs 19,084 crore in 9MFY24, up 10 percent on-year. Net Interest Margin (NIM) was 4.93 percent for Q3FY25.
Average Total Deposits grew to Rs 4.59 lakh crore for Q3FY25 compared to Rs 3.99 lakh crore for Q3FY24 up 15 percent on-year.
Average Current Deposits grew to Rs 66,589 crore for Q3FY25 compared to Rs 59,337 crore for Q3FY24 up 12 percent on-year. Average Savings Deposits grew to Rs 1.24 lakh crore for Q3FY25 compared to Rs 1.23 lakh crore for Q3FY24 up 1 percent on-year.
Average Term Deposits grew to Rs 2.68 lakh crore for Q3FY25 compared to Rs 2.16 lakh crore for Q3FY24 up 24 percent on-year. CASA ratio as at December 31, 2024 stood at 42.3 percent. Credit to Deposit ratio as at December 31, 2024 stood at 87.4 percent.
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