Kotak Mahindra Bank's consolidated net profit up 1.4% YoY in Q2

Asset quality has improved sequentially, with the bank reporting GNPAs of 3.19% in Q2FY22 against 3.56% in Q1FY22

Kotak Mahindra Bank reported a 1.43 per cent year-on-year (YoY) increase in consolidated net profit in the July–Sept­ember quarter (Q2) of FY22. Its net profit for the quarter stood at Rs 2,989 crore against Rs 2,947 crore in the year-ago quarter. Sequentially, the profit is up 65.5 per cent.

On a standalone basis, wh­ich reflects the bank’s lending operations, it reported a 7 per cent YoY drop in net profit to Rs 2,032 crore in Q2FY22 due to higher provision as well as operating expenditure. In the year-ago period, the bank had reported a net profit of Rs 2,184.5 crore. However,