Wednesday, October 24, 2018

KMB reports 21 percent increase in net, Net NPA comes down

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 Kotak Mahindra Bank reported a 21 per cent increase in its September 2018 quarter consolidated net profit. The asset quality of the bank’s loan book also improved during the quarter.

Profit after tax at the consolidated level rose to Rs 1747 Cr, from Rs 1441 Cr in the year-ago period.

Net NPAs as a percentage of net advances stood at 0.73 per cent for the September quarter, against 1.08 per cent in the year-ago quarter and 0.77 per cent in the June quarter. 

The stock closed at Rs 1181, up Rs 7 in today's trade.

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