Kotak Mahindra Bank Q1 net profit rises 22.55 per cent to Rs 5,480 crore

Kotak Mahindra Bank reported a 22.55 per cent rise in consolidated net profit to Rs 5,480.46 crore in the June quarter, driven by higher net interest income, fee income and business growth, while asset quality improved despite a decline in net interest margin

Mumbai: Private lender Kotak Mahindra Bank on Saturday reported a 22.55 per cent rise in consolidated net profit to Rs 5,480.46 crore in the first quarter of the financial year 2026-27.

In the year-ago period, Kotak Mahindra Bank’s consolidated net profit stood at Rs 4,472.18 crore.

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On a standalone basis, the bank’s net profit stood at Rs 4,122.96 crore in the June 2026 quarter, compared with Rs 3,281.68 crore in the year-ago period.

The bank’s core net interest income increased by 9 per cent year-on-year to Rs 7,928 crore in the reporting quarter from Rs 7,259 crore in the first quarter of the financial year 2025-26.

However, the bank’s net interest margin declined to 4.53 per cent in the June quarter from 4.65 per cent in the year-ago period and 4.67 per cent in the previous quarter.

In the reporting quarter, the bank’s fee and services income increased by 11 per cent to Rs 2,500 crore from Rs 2,249 crore a year ago. On a sequential basis, it declined by 10 per cent.

Total deposits of the bank grew by 14 per cent year-on-year to Rs 5.59 lakh crore in Q1FY27 from Rs 4.92 lakh crore in Q1FY26, according to the investor presentation.

Kotak Mahindra Bank’s current account deposits increased by 15 per cent year-on-year to Rs 78,107 crore.

The bank recorded a 15 per cent year-on-year increase in advances to Rs 5.28 lakh crore in the June quarter from Rs 4.59 lakh crore in the same period a year ago.

The bank’s asset quality also improved in the reporting quarter, with the gross non-performing asset (NPA) ratio at 1.18 per cent as on June 30, 2026, compared with 1.48 per cent as on June 30, 2025, and 1.20 per cent as on March 31, 2026.