Kotak Mahindra Bank Q4 Profit Down 14% to Rs 3,552 Cr

New Delhi, May 3 (PTI) Private sector lender Kotak Mahindra Bank on Saturday reported a 14 per cent fall in standalone profit to Rs 3,552 crore for the January-March quarter of 2024-25 compared to Rs 4,133 crore in the last quarter of 2023-24.

The bank's total income increased to Rs 16,712 crore in the quarter from Rs 15,285 crore in the same period a year ago, Kotak Mahindra Bank said in a regulatory filing.

During the quarter the bank earned interest income of Rs 13,530 crore as against Rs 12,307 crore in the same period a year ago. Net Interest Income (NII) rose to Rs 7,284 crore, from Rs 6,909 crore in Q4FY24, registering a modest increase of 5 per cent.

On the asset quality side, the bank witnessed marginal deterioration with gross non-performing assets (NPA) of the total advances rising to 1.42 per cent in the fourth quarter from 1.39 per cent at March-end last year.

However, net NPAs against net advances moderated a bit to 0.31 per cent in March 2025 against 0.34 per cent same period a year ago.

On a consolidated basis, Kotak Mahindra Bank's net profit declined by 8 per cent to Rs 4,933 crore as against Rs 5,337 crore in the same quarter a year ago.

Total income also eased to Rs 27,174 crore compared to Rs 27,907 crore in the fourth quarter of the previous fiscal.

For the entire financial year 2024-25, the bank's profit on a standalone basis rose to Rs 16,450 crore as against Rs 13,782 crore in the previous year.

"The bank's profit for FY25 increased to Rs 16,450 crore (including gain on divestment of Kotak General Insurance of Rs 2,730 crore) from Rs 13,782 crore in FY24, up 19 per cent YoY. Profit after tax for FY25 excluding gain on divestment of Kotak General Insurance stood at Rs 13,720 crore," it said.

During the year, NII increased to Rs 28,342 crore, from Rs 25,993 crore in FY24, registering a growth of 9 per cent. The bank's capital adequacy ratio rose to 22.25 per cent from 20.55 per cent at the end of FY24.

Net Interest Margin (NIM) was 4.96 per cent for FY25 and 4.97 per cent for Q4FY25, it said.

The bank's board has recommended a dividend of Rs 2.50 per equity share having a face value of Rs 5, for the year ended March 31, 2025, subject to the approval of shareholders.