Kotak Mahindra Bank Profit on stand alone basis has increased by five percent to Rs 3,344 crore in the July-September quarter of the current financial year. In the same quarter of the last financial year, the profit of the financial company was Rs 3,191 crore. Kotak Mahindra Bank said in a stock exchange filing on Saturday that its total income increased to Rs 15,900 crore in the September quarter, from Rs 13,507 crore in the same quarter of the last financial year. The interest income of the bank increased to Rs 13,216 crore in the quarter under review, which was Rs 11,193 crore in the same quarter of the last financial year. Net interest income (NII) rose 11 per cent to Rs 7,020 crore from Rs 6,297 crore in the same quarter last year.
Decline in interest margin
However, the net interest margin (NIM) declined to 4.91 per cent from 5.22 per cent at the end of Q2 last fiscal. The bank’s gross non-performing assets (NPAs) declined to 1.49 per cent of gross loans by the end of September 2024, from 1.72 per cent at the same time a year ago. However, net NPA or bad loans increased to 0.43 per cent from 0.37 per cent at the end of the second quarter of the last financial year.
ICICI Lombard’s net profit jumps
ICICI Lombard’s profit increased 20.2% to Rs 694 crore in Q2FY25. ICICI Lombard’s gross direct premium income (GDPI) has increased by 15.5 percent year-on-year to Rs 144.09 billion (Rs 14409 crore) in the first half of the financial year 2025 (H1 FY2024), while in the first half of the financial year 2024 (H1 FY2024). 124.72 billion (Rs 12472 crore). Excluding crops and public health, the company’s GDP growth in the first half of FY 2025 was 15 percent. The company’s combined ratio for the first half of FY2025 stood at 103.2 percent, while for the first half of FY2024 it was 103.8 percent. Excluding the impact of CAT losses of Rs 0.94 billion (Rs 94 crore) in H1FY25 and Rs 0.83 billion (Rs 83 crore) in H1FY24, the combined ratio was 102.2 per cent and 102.7 per cent, respectively.
