Kotak Mahindra Bank Q2 net increases 16%

Kotak Mahindra Bank on Thursday reported a 16 per cent rise in net profit to Rs 502.17 crore for the second quarter ended September in the current fiscal from the comparable quarter a year ago at Rs 432.58 crore.

Its total income during the quarter rose to Rs 4,035.75 crore in the quarter, up 47.24 per cent, from Rs 2,740.84 crore in the year-ago period. Income from other sources increased to Rs 1,425.97 crore from Rs 711.48 crore. Net interest margin (NIM) jumped 15.4 per cent to Rs 1,107 crore in Q2, FY’13 against Rs 959 crore in Q2, FY’12.

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