Kotak Bank net profit dips 40% year-on-year to Rs 4,472cr in Q1

MUMBAI: Kotak Mahindra Bank on Saturday reported a 40% year-on-year fall in net profit to Rs 4,472.2 crore for the quarter ended June 2025, primarily due to a one-time acquire final yr when the financial institution bookedRs 3,803 crore from the sale of a 70% stake in its common insurance coverage arm to Zurich Insurance. Without the earlier quarter’s one-time acquire, the consolidated net profit would have been 1% increased this quarter.Consolidated net curiosity revenue for the quarter rose 7.6% to Rs 9,719 crore, from Rs 9,031.5 crore a yr earlier. The rise was pushed by an 8.9% improve in curiosity earned, primarily from increased revenue on advances and investments, at the same time as curiosity expended rose 10.6%. The financial institution’s slippages rose 22% to Rs 1,812 crore through the quarter, notably in unsecured and microfinance loans.“We could not issue any credit cards last year due to the RBI embargo, so outstandings declined. We resumed issuance in Q1 this year but it takes time to ramp up. We have launched new products like Solitaire and relaunched the IndiGo card. I am confident we are back on a positive trajectory. It is a key business for us, and we are focused on growing it,” mentioned Ashok Vaswani, MD and CEO. He mentioned that the financial institution’s digital app 811 was additionally seeing good traction after being relaunched, with many purchasers being acquired digitally.