Kotak Mahindra Bank's net profit up 21.3% yoy to Rs 17.47 bn in Q2

Gross NPAs, fell to 1.91 per cent for the September quarter, against 2.14 per cent in the year-ago quarter

Private lender Kotak Mahindra Bank reported a 21.3 per cent increase in its September 2018 quarter (Q2) consolidated net profit on account of higher interest and fee income. The asset quality of the bank’s loan book also improved during the quarter.

Profit after tax at the consolidated level rose to Rs 17.47 billion in Q2 FY19, from Rs 14.41 billion in the year-ago period.

Total consolidated income rose 18.5 per cent year-on-year (YoY) to Rs 108.29 billion, said the bank in a filing to stock exchanges.

At the standalone level, which represents the banking operations, the net profit increased by