Kotak Mahindra Bank net rises 15%

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The bank had posted a net profit of ₹1,854 crore in the quarter ended December 2020.

Private sector lender Kotak Mahindra Bank on Friday reported a 15% rise in standalone net profit to ₹2,131 crore for the quarter ended December 2021.

The bank had posted a net profit of ₹1,854 crore in the quarter ended December 2020.

The total income of the lender on the standalone basis grew by 4% to ₹8,260.48 crore in Q3 FY22, from ₹7,950 crore in the same quarter of FY21, Kotak Mahindra Bank said in a regulatory filing.

On a consolidated basis, the net profit of the private sector lender rose by 31% to ₹3,403 crore in the October-December period of 2021-22, as against ₹2,602 crore in the year-earlier period.

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