Kotak Mahindra Bank Meets Estimates; Q2 Net Rises 23%
Private lender Kotak Mahindra Bank reported 23 per cent year-on-year (y-o-y) rise in its consolidated net profit to Rs 718 crore supported by lower provisions and higher other incomes.
Net interest income (interest earned over interest expended) of the bank surged 12 per cent y-o-y to Rs 1,039 crore in the reporting period.
Its earnings were broadly in line with street estimates as analysts polled by NDTV had estimated its consolidated net profit at Rs 853 crore on NII of Rs 1,014 crore.
Profitability of the bank also increased in the second quarter of FY15. Net interest margin (NIM) a gauge of profitability of banks increased to 5 per cent in the quarter against 4.9 per cent in the same period last fiscal for the bank.
Kotak Mahindra Bank shares ended 5.2 per cent higher at Rs 1,066 a piece against 0.86 per cent gain in the broader Nifty. Yesterday the bank has reduced interest rate on deposits of below Rs 1 lakh by 0.5 per cent to 5 per cent.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
