Kotak Mahindra Bank Q2 net up 26% on higher income and better asset quality

Kotak Mahindra Bank Q2 net up 26% on higher income and better asset quality left A man walks past the Kotak Mahindra Bank branch in New Delhi Reuters Reuters https://th-i.thgim.com/public/incoming/beg5k/article71619767.ece/alternates/FREE_1200/TH06-E1-ASHOK_GG7JGKFRVT.3.jpg.jpg ADNAN ABIDI FILE PHOTO - A man walks past the Kotak Mahindra Bank branch in New Delhi, India, September 6, 2017. REUTERS/Adnan Abidi/File Photo Asset quality improved, with gross non-performing assets (GNPA) declining to 1.04% from 1.39% a year earlier. MUMBAI Kotak Mahindra Bank reported a 26% year-on-year (YoY) increase in net profit to ₹5,645.38 crore for the quarter ended September, beating analysts’ estimates based on LSEG data but falling short of domestic brokerages’ projections of 27-32% growth. The lender’s total income rose 18% YoY to ₹29,426.88 crore. Other income increased nearly 25% to ₹9,571.01 crore. However, sequentially, total income and other income declined 2.1% and 18.3%, respectively.