Kotak Mahindra Bank's Q2 Profit Surges 13%, Driven by Strong Subsidiary Performance

Kotak Mahindra Bank's second-quarter results for FY 2024-25 announced a consolidated PAT of Rs5,044 crore, showcasing a 13% YoY growth. Key contributions came from its subsidiaries and a robust expansion in customer assets and deposits. The report highlights sustained growth across Kotak's diversified financial services.

Kotak Mahindra Bank reported a remarkable 13 percent year-on-year increase in its consolidated profit after tax (PAT), reaching Rs5,044 crore for the second quarter of fiscal year 2024-25. This growth in profits, up from Rs4,461 crore in the same period last year, was sanctioned during a Board of Directors meeting in Mumbai.

The bank's standalone PAT rose by 5 percent to Rs3,344 crore, while its Net Interest Income (NII) climbed 11 percent to Rs7,020 crore. The robust performance was bolstered by an operating profit increase of 11 percent to Rs5,099 crore. Subsidiaries like Kotak Securities and Kotak Mahindra Life Insurance also significantly enhanced the consolidated performance with substantial PAT increases.

The bank expanded its customer base to 5.2 crore and reported an 18 percent rise in customer assets to Rs450,064 crore. The deposit base surged 16 percent to Rs446,110 crore. Despite a slight ROA decline, Kotak's capital adequacy ratio remained strong at 22.6 percent. Overall, Kotak Mahindra continues to showcase robust financial health and strategic growth.

(With inputs from agencies.)