Kotak Bank profit up 81% to Rs 6,250 crore
5 months ago

Kotak Bank profit up 81% to Rs 6,250 crore

New Indian Express  

MUMBAI: A stake sale in its general insurance subsidiary has boosted standalone net income of the fourth largest private sector lender, Kotak Mahindra Bank, by 81% to Rs 6,250 crore, of which as much as Rs 3,012 crore came in as the one-time income from deal with Zurich Insurance group that picked up 70% in the company during June quarter. That means keeping the insurance stake aside, consolidating net profit stood at Rs 4,435 crore, the bank said on Saturday. In fact, none of the numbers met the street expectations as the bank’s business was hit by the RBI ban on digital and mobile banking channels from the middle of April for not meeting KYC requirements and also for not fully securing customer data from a technical angle. “The RBI ban on digital and mobile banking channels had quite an impact on financials – saw temporary disruption on digital journeys, 811 business and credit cards, “ the management told reporters at the earnings call Saturday.

Bank Crore Rbi Insurance Stake  income  crore  81  6250  net  bank  insurance  stake  rbi  digital  rs  quarter  kotak  profit  mobile

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Tamilnad Mercantile Bank Soars to New Heights with 11% Net Profit Growth
1 month, 3 weeks ago

Tamilnad Mercantile Bank Soars to New Heights with 11% Net Profit Growth

The Hindu  

Tamilnad Mercantile Bank reports its highest-ever net profit for the September quarter, with a rise of 11%. The bank's net interest income increased by 12%, while net interest margin improved to 4.25%. Non-interest income also rose, indicating a strong performance in the private sector lending segment.

Bajaj Finserv Soars 8% as Insurance Push Fuels Profit
2 months ago

Bajaj Finserv Soars 8% as Insurance Push Fuels Profit

New Indian Express  

Bajaj Finserv reports an 8 percent rise in net profit to Rs 2,087 crore in the September quarter. The company's net gain on fair value of investments increased by Rs 1,650 crore, contributing significantly to the overall profit. The revenue of the company jumped 29 percent to Rs 33,704 crore, but it did not translate into commensurate net income due …

Stocks to Watch: Strong Performance in the Banking and Real Estate Sectors
2 months ago

Stocks to Watch: Strong Performance in the Banking and Real Estate Sectors

Live Mint  

The news article focuses on several Indian stocks, highlighting positive financial performances and potential gains. While some companies like Bajaj Housing Finance, Cyient DLM, and Union Bank of India saw significant increases in their net profits, others like Mahindra Logistics and Aurum PropTech reported net losses. Ola Electric's IPO is expected to be a major highlight in the Indian stock …

Kotak Mahindra Bank Q1 Results: Net Profit Surges 81% to Rs 6,250 Crore, NPA Flat
5 months ago

Kotak Mahindra Bank Q1 Results: Net Profit Surges 81% to Rs 6,250 Crore, NPA Flat

News 18  

Kotak Mahindra Bank Q1 Results: Kotak Mahindra Bank said on Saturday reported an 81 per cent surge in its standalone net profit to Rs 6,250 crore for the April-June 2024 quarter. Kotak Mahindra Bank’s standalone net profit, excluding subsidiaries, had stood at Rs 3,452 crore rupees in the corresponding period last year. Kotak recorded “exceptional” income of Rs 3,520 crore …

Mahindra Finance’s Q3 net profit declines 12% to ₹553 crore
10 months, 3 weeks ago

Mahindra Finance’s Q3 net profit declines 12% to ₹553 crore

Live Mint  

Mumbai: Mahindra Finance, a non-banking lender focused on auto finance, on Tuesday reported a 12 per cent decline in standalone net profit to ₹553 crore for the December quarter. On a consolidated basis, the company's net income declined 6 per cent to ₹623 crore from ₹664 crore and the total income rose 23 per cent to ₹4,137 crore. Adjusted for …

Indian Bank Q3 standalone net rises 52% to ₹2,119 cr.
10 months, 4 weeks ago

Indian Bank Q3 standalone net rises 52% to ₹2,119 cr.

The Hindu  

Indian Bank reported standalone net profit for the December quarter rose 52% from the year-earlier period to ₹2,119 crore due to growth in interest income. Net interest income increased 6% to ₹5,815 crore and fee based income by 21% to ₹852 crore. Gross advances of the bank increased by 13% ₹5,09,800 crore, while gross deposits rose 10% to ₹6,54,154 crore. …

Kotak Mahindra Bank Q3 results: Net profit rises 6.75% to ₹4,265 cr
11 months ago

Kotak Mahindra Bank Q3 results: Net profit rises 6.75% to ₹4,265 cr

Hindustan Times  

Kotak Mahindra Bank on Saturday reported a 6.75 per cent growth in consolidated net profit to ₹4,264.78 crore in the December quarter. On a standalone basis, the private sector lender's profit after tax rose to ₹3,005.01 crore from ₹2,791.88 crore in the year-ago period, but was lower than the preceding September quarter's ₹3,190.97 crore. Its total income rose to ₹14,096 …

IndusInd Bank reports ₹2,298 crore Q3 net profit, a 17.3% surge from last year
11 months ago

IndusInd Bank reports ₹2,298 crore Q3 net profit, a 17.3% surge from last year

Hindustan Times  

IndusInd Bank on Thursday reported a net profit of ₹2,298 crore for the third quarter ending December 31, a surge by 17.3 per cent from the previous year. IndusInd Bank on Thursday reported a net profit of ₹ 2,298 crore for the third quarter ending December 31 The lender beat the Q3 profit expectations, helped by strong loan growth, Reuters …

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY
1 year, 1 month ago

PNB Q2 net profit jumps 327% to ₹1,756 crore; NII rises 20% YoY

Live Mint  

PNB Q2 Results: Punjab National Bank, the state-run lender, reported a sharp jump of 327% in its net profit for the second quarter of FY24 led by lower provisions. PNB’s net profit in Q2FY24 surged to ₹1,756 crore from ₹411.3 crore in the same quarter last year. PNB’s net interest income during the July-September 2023 quarter rose 20% to ₹9,923 …

Higher income, lower provisions lift IndusInd Q2 profit 22%
1 year, 2 months ago

Higher income, lower provisions lift IndusInd Q2 profit 22%

Live Mint  

Private sector lender IndusInd Bank on Wednesday reported a 22% year-on-year rise in September quarter standalone net profit to ₹2,181.5 crore on the back of higher income and lower provisions. We have consistently communicated that our balance sheet construct, and the growth dynamics are able to withstand NIM volatility,” said Sumant Kathpalia, chief executive officer, IndusInd Bank. We have always …

Stocks to Watch: RIL, Axis Bank, TechM, Marico, IndiGo, Dr Reddy’s
1 year, 4 months ago

Stocks to Watch: RIL, Axis Bank, TechM, Marico, IndiGo, Dr Reddy’s

Live Mint  

Here are the top 10 stocks that could be in focus in today's trade: Reliance Industries: Jio Financial Services Ltd, the demerged financial lending arm of Reliance Industries Ltd, and BlackRock, the world’s largest asset manager, have joined hands to set up an asset management company with a combined investment of $300 million. Net interest income or core income jumped …

Stocks to Watch: Adani Group, TCS, Coal India, Kotak Bank, Patanjali Foods
1 year, 6 months ago

Stocks to Watch: Adani Group, TCS, Coal India, Kotak Bank, Patanjali Foods

Live Mint  

Here are the top 10 stocks that could be in focus in today's trade: Adani Group: Adani Group is set to raise $3.5 billion through an equity share sale to institutional investors in the comeback strategy. While boards of Adani Enterprises Ltd and electricity transmission company Adani Transmission Ltd have already approved raising up to ₹21,000 crore through share sales …

Uday Kotak’s comeback in best interest of stakeholders, says CFO
1 year, 7 months ago

Uday Kotak’s comeback in best interest of stakeholders, says CFO

Live Mint  

Mumbai: Uday Kotak’s plan to return as non-executive director after his tenure as Kotak Mahindra Bank chief executive ends in December is compliant with regulations and is in the best interest of all stakeholders, a senior bank executive said on Saturday. “What we have gone through with is something we clearly believe is in accordance with law and regulations and …

Kotak Mahindra Bank Q3 profit jumps 31% to ₹2,792 crore
1 year, 11 months ago

Kotak Mahindra Bank Q3 profit jumps 31% to ₹2,792 crore

Hindustan Times  

Private sector Kotak Mahindra Bank on Saturday reported a 31 per cent jump in its standalone profit at ₹2,792 in the quarter ended December 2022 aided by improvement in net interest income. The bank's total income increased to ₹11,099 crore in the latest December quarter from ₹8,260 crore in the year-ago period, the bank said in a regulatory filing. Net …

Punjab National Bank gets govt approval to dilute stake in UTI Mutual Fund
2 years ago

Punjab National Bank gets govt approval to dilute stake in UTI Mutual Fund

Live Mint  

State-owned Punjab National Bank on Thursday said it has received the government approval to divestment its entire stake in UTI Asset Management Company Limited as part of its non-core asset sale plan to shore up its capital base. The bank, which holds 15.22% stake in UTI AMC, will divestment its entire stake in the mutual fund company in single or …

Kotak Bank’s profit up 26% YoY, see treasury loss of ₹857 crore
2 years, 5 months ago

Kotak Bank’s profit up 26% YoY, see treasury loss of ₹857 crore

Live Mint  

Kotak Mahindra Bank reported a 26% year-on-year jump in net profit, aided by higher credit and lower provisions. The private lender reported a net profit of ₹ ₹2,071.10 crore in the first quarter as against a net profit of ₹1,641.90 crore during the corresponding period last year. However, the bank’s net profit fell 25% on a sequential basis owing to …

Kotak Securities downgrades 3 Major tyre stocks, citing high crude prices
2 years, 6 months ago

Kotak Securities downgrades 3 Major tyre stocks, citing high crude prices

Live Mint  

The year 2022 was not a favourable start for the majority of industries due to high commodity prices, low demand, high inflation, and high-interest rates, and all of this had impacted the companies' gross margins in the March quarter. Ceat: For the fourth quarter ended March 2022, Ceat reported an 84 per cent drop in consolidated net profit to Rs …

From Punjab National Bank to Adani Enterprise, Here are the Stocks to Watch Today
3 years, 4 months ago

From Punjab National Bank to Adani Enterprise, Here are the Stocks to Watch Today

News 18  

The Indian market is likely to open flat on Tuesday, August 03, amid mixed global cues. Punjab National Bank: The government-owned bank’s Q1FY22 net profit jumped to Rs 1,023.5 crore from Rs 308.5 crore. CG Power and Industrial Solutions: The multinational company reported a consolidated net profit of Rs 48 crore in Q1FY22. Balaji Amines: The company’s standalone net profit …

Kotak Mahindra Bank Q1 Results: Net Profit Rises 32% to Rs 1,641 Crore
3 years, 4 months ago

Kotak Mahindra Bank Q1 Results: Net Profit Rises 32% to Rs 1,641 Crore

News 18  

New Delhi: Private lender Kotak Mahindra Bank on Monday reported a nearly 32 per cent jump in its net profit to Rs 1,641.92 crore in the first quarter of 2021-22. The bank had posted a net profit of Rs 1,244.45 crore in the same quarter of the previous fiscal year. Total income during April-June 2021-22 rose to Rs 8,062.81 crore, …

Kotak Mahindra Bank Q4 results: Net Profit Rises 33% to Rs 1,682.4 Crore, NII Improves
3 years, 7 months ago

Kotak Mahindra Bank Q4 results: Net Profit Rises 33% to Rs 1,682.4 Crore, NII Improves

News 18  

Kotak Mahindra Bank reported a 33% year-on-year increase in standalone profit to Rs 1,682.4 crore in the quarter ended March 2021. The average savings deposits with the bank grew by 27% to Rs 108,812 crore for FY21 compared to Rs 85,656 crore for FY20. “CASA and TDs below Rs 5 crore as at March 31, 2021, constituted 91% of total …

Market Investors Show Interest in Bank of India After NPA Trim, Five-Fold Profits
3 years, 10 months ago

Market Investors Show Interest in Bank of India After NPA Trim, Five-Fold Profits

News 18  

State-owned Bank of India reported a more than five-fold jump in standalone net profit to Rs 540.72 crore for the quarter ended in December. The bank had registered a net profit of Rs 105.52 crore in the year-ago period. Speaking about slippages and gross NPAs, AK Das, MD and CEO at Bank of India told CNBC-TV18, “Proforma NPA as at …

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline
4 years, 1 month ago

Indian Overseas Bank Reports Net Profit of Rs 148 Crore in Q2 as Bad Assets Decline

News 18  

State-owned Indian Overseas Bank on Friday reported a net profit of Rs 148 crore for the second quarter of current fiscal as bad loans and provisions declined. Sequentially, net profit grew 22.3 per cent from Rs 121 crore in June quarter of this fiscal. Total income rose 8.1 per cent to Rs 5,431 crore during the quarter under review as …

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