Kotak Mahindra Bank reports net jump of 22.5 percent in December quarter

Kotak Mahindra Bank on Monday reported a 22.57 percent increase in its standalone net profit during the October-December quarter on a year-on-year basis. Its standalone net profit stood at Rs 1,290.93 crore, up from Rs 1,053.21 crore recorded during the third quarter of the financial year 2017-18, the bank said in a regulatory filing at the BSE. The private lender's total income during Q3 of ongoing financial year (2018-19) was Rs 7,214.21 crore, higher by 19.26 percent from Rs 6,049.02 crore earned during the corresponding period of the previous year. "As on December 31, 2018, the GNPA (Gross Non-Performing Asset) was 2.07 percent and NNPA (Net Non-Performing Asset) was 0.71 percent," it said. Capital adequacy ratio of the bank, including unaudited profits as per Basel-III, as on December 31 was 18.1 percent and Tier-I ratio was 17.6 percent.