Kotak Mahindra Bank Q1 Results FY2023, PAT at Rs. 2071 crores

On 23rd July 2022, Kotak Mahindra Bank announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- The bank’s Net Interest Income (NII) for the quarter grew by 19% to Rs. 4697 crore for Q1FY23 as against Rs. 3942 crores in Q1FY22.

- Gross NPAs were at 2.24% in Q1FY23 from 3.56% in Q1FY22

- Net NPAs as of June 30, 2022, improved to 0.62% against 0.64% as of June 30, 2021

- Kotak Mahindra Bank reported its PAT at Rs. 2071 crores with a yearly growth of 26% YoY.

- The total income went up at Rs. 5941 crores

- The operating profit declined at Rs. 2783 crores in Q1FY23 from Rs. 2890 crores in Q1FY22

Segment Revenue:

- The revenue from retail banking went up by 2% YoY with a revenue at Rs. 4240 crores.

- The Corporate banking revenue stood at Rs. 3517 crores with a growth of 11% YoY.

- The revenue from treasury segment stood at Rs. 1496 crores with a decline of 32% YoY.