{"id":3022,"date":"2024-07-20T10:19:38","date_gmt":"2024-07-20T10:19:38","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=3022"},"modified":"2024-07-20T10:19:38","modified_gmt":"2024-07-20T10:19:38","slug":"kotak-mahindra-q1-profit-soars-81-to-rs-6250-crore-on-insurance-stake-sale","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/kotak-mahindra-q1-profit-soars-81-to-rs-6250-crore-on-insurance-stake-sale\/","title":{"rendered":"Kotak Mahindra Q1 Profit Soars 81% to Rs 6,250 Crore on Insurance Stake Sale"},"content":{"rendered":"\n

For the quarter ended April-June of fiscal year 2025, Kotak Mahindra Bank reported an 81% rise in net profit to Rs 6,250 crore, from Rs 3,452 crore in the same quarter last year. This was helped by a Rs 3,012 crore gain on account of the sale of its stake in Kotak General Insurance to Zurich Insurance Group.<\/p>\n\n\n\n

This apart, while NII of Rs 6,842 crore grew by an impressive 10% over last year, it fell short of the Rs 7,087 crore projected by brokerages. The net interest margin (NIM) for Q1FY25 stood at 5.02%.<\/p>\n\n\n\n

Gross non-performing assets (GNPA) improved to 1.39% from 1.77% last year, while net non-performing assets (NNPA) decreased to 0.35% from 0.44% over the same period. In just a year’s time, the bank’s advances went up by 20% to the level of Rs 4.05 lakh crore, and total deposits increased by 21% to touch Rs 4.35 lakh crore. However, the current and savings account deposits (CASA) grew only 3% y-o-y to Rs 1.94 lakh crore and saw a 5% sequential drop.<\/p>\n\n\n\n

Shares of Kotak Mahindra Bank closed at Rs 1,821.75 on BSE, falling by 0.07% on July 19.<\/p>\n\n\n\n

Do you have a news tip for Lakshmishree reporters? Please email us at\u00a0media@lakshmishree.com<\/a><\/em><\/p>\n\n\n\n

Source: Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"

For the quarter ended April-June of fiscal year 2025, Kotak Mahindra Bank reported an 81% rise in net profit to Rs 6,250 crore, from Rs 3,452 crore in the same quarter last year. This was helped by a Rs 3,012 crore gain on account of the sale of its stake in Kotak General Insurance to […]<\/p>\n","protected":false},"author":1,"featured_media":3023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[62],"tags":[113],"class_list":["post-3022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-results","tag-kotak-bank-q1"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=3022"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3022\/revisions"}],"predecessor-version":[{"id":3024,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3022\/revisions\/3024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/3023"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=3022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=3022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=3022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}