Kotak Mahindra Bank disclosed a steady growth in standalone net profit for the quarter ended June 2018. During the quarter, the profit of the bank rose 12.29% to Rs 10,249.40 million from Rs 9,127.30 million in the same quarter last year.
Interest earned for the quarter rose 17.70% to Rs 54,797 million, compared with Rs 46,558 million for the prior year period.
Bank's operating profit for Q1FY19 increased to Rs 20.33 billion from Rs 15.96 billion in Q1FY18 up 27%.
Net Interest Income (Nil) for Q1FY19 increased to Rs 25.83 billion from Rs 22.46 billion In Q1FY18, up by 15%.
Net Interest Margin (NIM) for Q1FY19 at 4.3%.
Capital adequacy ratio of the Bank, including unaudited profits, as per Basel Ill, as on June 30, 2018 is 18.3% and Tier I ratio is 17.6%.
Shares of the bank declined Rs 51.8, or 3.69%, to trade at Rs 1,350.25. The total volume of shares traded was 321,213 at the BSE (3.45 p.m., Thursday).
