Kotak Mahindra Bank Q1 consolidated profit up by 26% at Rs 1,347 crore

Consolidated net interest margin flat at 4.4%; gross non-performing asset ratio up slightly at 2.58%

Private sector lender Kotak Mahindra Bank posted a 26 per cent rise in consolidated net profit for the quarter ended June 2017 (Q1), at Rs 1,347 crore from Rs 1,067 crore in year-ago quarter, driven by increase in net interest and other income.
 

Consolidated net interest margin (NIM) was flat at 4.4 per cent for Q1. On a standalone basis, its net profit increased 23 per cent to Rs913 crore in the quarter from Rs 742 crore in the corresponding period last year. 
 

For the standalone entity, the net interest income — the difference between interest earned and interest