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The private lender had recorded a net profit of Rs. 994.31 in the same period last year.
The increase in interest and commission income primarily boosted the bank's financial results. However, he missed badysts' expectations.
Brokerage Prabhudas Lilladher expected a net profit of Kotak of Rs 1,185 crores, while Sharekhan's estimate was 1,209 rupees.
Take a look at Kotak's key recipes in the second quarter.
Net Interest Income: The lender's net interest income jumped 16.28% to Rs.2,269.10 crore for the current quarter, compared to R $ 2,312.66 crore Rupee at the same time last year.
Quality of Assets: The percentage of gross unproductive badets compared to gross advances decreased from 2.17% to 2.15% in the previous quarter. This figure was 2.47% in the second quarter of fiscal 2008. The percentage of net advances to net advances also improved from 0.86% qoq to 0.81%. .
NIM: Net Interest Margin (NIM) was reduced to 4.2% from 4.4% a year earlier.
Advances and Savings: Advances at September 30 were up 21% to Rs. 1 84 940 crore against Rs 1.52.574 crore in the corresponding quarter of last year. Savings deposits averaged 43 per cent to Rs. 68,630 crores in the second quarter of FY19, compared to Rs. 48,127 crore for the second quarter of FY18. current account jumped 22% to 27,807 crores of rupees between July and September, against 22,734 crores a year earlier. The CASA ratio stood at 50.2% at the end of September, up 47.8% a year earlier.
Consolidated Results: The lender recorded 21% year-over-year growth in consolidated net income of Rs 1,747 crore for the September quarter. The lender reported a profit of Rs 1,441 in the corresponding quarter of last year.
The total badets managed by the group increased by 18% year-on-year to Rs. 1 99 382 at the end of the second quarter.
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