Kotak Mahindra Bank Q1 net profit up 26% YoY to ₹4,123 crore, NII rises 9%
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Net Interest Income (NII) for the quarter increased to ₹7,928 crore, up 9% YoY from ₹ 7,259 crore in Q1FY26.
Net Advances increased 15% YoY to ₹512,249 crore as of June 30
Kotak Mahindra Bank today reported a 26% year-on-year increase in net profit in Q1FY27 to ₹4,123 crore, compared with ₹3,282 crore in the corresponding quarter of the previous financial year. The net profit is up 2% quarter on quarter from ₹4,027 crore in Q4FY26.
Net Interest Income (NII) for the quarter increased to ₹7,928 crore, up 9% YoY from ₹7,259 crore in Q1FY26, while the Net Interest Margin (NIM) stood at 4.53% for Q1FY27 against 4.65% for Q1FY26 and 4.67% for Q4FY26. The bank reported cost of funds at 4.46% during the quarter marginally lower than 5.01% in the year-ago quarter and 4.45% in Q4FY26.
“Net Advances increased 15% YoY to ₹5,12,249 crore as of June 30, 2026 from ₹4,44,823 crore as of June 30, 2025. Customer Assets which comprise Advances (incl. IBPC & BRDS) and Credit Substitutes grew to ₹5,70,901 crore as of June 30, 2026, up 16% YoY from ₹4,92,972 crore as of June 30, 2025,” Kotak Mahindra Bank said in a release.
“Total period-end Deposits grew to ₹5,72,820 crore for Q1FY27, up 12% YoY from ₹5,12,838 crore for Q1FY26. Average total deposits grew to ₹5,58,891 crore for Q1FY27, up 14% YoY from ₹4,91,998 crore for Q1FY26,” it added.
“Average Current Deposits grew to ₹78,107 crore for Q1FY27, up 15% YoY from ₹67,808 crore for Q1FY26. Average Fixed rate Savings Deposits grew to ₹1,25,061 crore for Q1FY27, up 16% YoY from ₹1,07,450 crore for Q1FY26,” it added.
“Average Term Deposits grew to ₹3,41,992 crore for Q1FY27, up 14% YoY from ₹3,00,003 crore for Q1FY26. CASA ratio as of June 30, 2026 stood at 40.3% (40.9% as of June 30, 2025),” it said.
The bank reported a massive decrease in provisions, which came down to ₹668 crore in the quarter, registering a 45% dip Y-o-Y from ₹1,208 crore in Q1FY26 (₹516 crore in Q4FY26). “Credit cost (annualised) for Q1FY27 stood at 0.46% (0.93% for Q1FY26 and 0.39% for Q4FY26),” it said.
“Slippages for Q1FY27 decreased to ₹1,321 crore, down 27% Y-o-Y from ₹1,812 crore in Q1FY26. As at June 30, 2026, GNPA was 1.18% and NNPA was 0.27% (GNPA was 1.48% and NNPA was 0.34% as of June 30, 2025),” it added.
Operating expenses for Q1FY27 stood at ₹5,135 crore, up 8% YoY from ₹4,775 crore in Q1FY26. Operating profit for Q1FY27 increased to ₹6,131 crore, up 10% YoY from ₹5,564 crore in Q1FY26 (up 5% QoQ from ₹5,855 crore in Q4FY26).
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