Kotak Mahindra Bank Q1 results: Profit slips 7% YoY | Dununu.com :...

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Kotak Mahindra Bank Q1 results: Profit slips 7% YoY

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Kotak Mahindra Bank's consolidated net profit witnessed a significant drop in the June quarter, reaching Rs 4,472 crore due to the absence of a one-time gain and margin pressures. While net interest income increased, the net interest margin contracted, impacting overall profitability. Provisions more than doubled, primarily due to stress in the microfinance and retail commercial vehicle segments.

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