Kotak Mahindra Bank profit surges

On a standalone level, which represents the banking operations, PBT at Rs 2,100.63 crore was up 20.6 per cent YoY, while net profit was up 51 per cent YoY to Rs 1,724.48 crore

Kotak Mahindra Bank posted a 15.5 per cent rise in consolidated profit before tax (PBT) at Rs 2,944.71 crore for the quarter ended September 30, 2019 (Q2FY20), from Rs 2,549.91 crore in the year-ago quarter.

Its net profit jumped 38 per cent to Rs 2,407.25 crore in Q2FY20, as against Rs 1,747.37 crore a year ago, on account of higher net interest income (NII), which is the difference between interest earned and interest expended. Total consolidated income was up 15.8 per cent year on year (YoY) to Rs 12,543 crore.

On a standalone level, which represents the banking operations, PBT at Rs