NEW DELHI: Kotak Mahindra Bank on Monday reported a 23 per cent year-on-year (YOY) jump in standalone profit-after-tax at Rs 1,291 crore for December quarter, slightly better than Rs 1,273 crore anticipated by analysts in an ET Now poll.
"In accordance with RBI communication, provision for mark-to-market depreciation on AFS and HFT investments continue to be presented under Provisions Contingencies.
However, if above provision for mark-to-market depreciation were treated as part of other income, adjusted income will be higher by Rs 271 crore," bank told BSE.The bank had reported Rs 1,053 crore profit in corresponding quarter, last year.
Net Interest Income (NII) for quarter rose to Rs 2,939 crore for quarter under review from Rs 2,394 crore in same quarter last year.
Net Interest Margin (NIM) for quarter came in at 4.33 per cent, bank said in a BSE filing.NIM stood at 4.27 per cent in year-ago quarter.Gross non-performing assets (NPAs) eased to 2.07 per cent in December quarter from 2.15 per cent in September quarter and 2.31 per cent in year-ago quarter.