Kotak Bank Q2 Profit Rises 29 Percent
India's Kotak Mahindra Bank posted a higher-than-expected quarterly net profit of 42.11 billion rupees. The increase was driven by strong loan demand and lower provisions for bad loans.
Xurve View
Insights:
Xurve View
Kotak Mahindra Bank Ltd posted a stand-alone net profit of 42.11 billion Indian rupees ($443.5 million) for the quarter ended September, beating estimates. The result marked an increase from 32.53 billion rupees recorded during the same period last year. Analysts expected a profit of 41.04 billion rupees, per LSEG data.
