Kotak Mahindra Bank reported fourth-quarter standalone internet profit rose 26% year-on-year to ₹3,496 crore, buoyed by a 35% bounce in internet curiosity revenue (NII).
NII within the January-March quarter rose to ₹6,103 crore, from ₹4,521 crore within the year-earlier interval and elevated 28% for the total fiscal yr to ₹21,552 crore, from ₹16,818 crore in FY22.
That helped elevate the financial institution’s profit after tax for FY23 by 28% to ₹10,939 crore.
Net Interest Margin (NIM) was 5.75% for the fourth quarter and 5.33% for FY23.
Operating profit surged 39% within the final quarter to ₹4,647 crore and for FY23 elevated 23% to ₹14,848 crore.
Net advances elevated by greater than 18% to ₹3,19,861 crore as at March 31, 2023.
As at March 31, gross NPA was 1.78% and internet NPA was 0.37%. (GNPA was 2.34% and NNPA was 0.64% at March 31, 2022).
The provision protection ratio stood at 79.3%.
Capital adequacy ratio of the financial institution, as at March 31, 2023, was 21.8% and CET I ratio was 20.6%.
The financial institution’s Board has advisable dividend of ₹1.50 per fairness share having face worth of ₹5, for the yr ended March 31.
