Kotak Mahindra Bank Q1 net profit up 26% YoY to ₹ 4,123 crore, NII rises 9%
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Kotak Mahindra Bank today reported a 26% year-on-year increase in the net profit in Q1, FY27 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 Q4, FY26)
Net Interest Income (NII) for the quarter increased to ₹7,928 crore, up 9% YoY from ₹ 7,259 crore in Q1, FY26, while the Net Interest Margin (NIM) stood at 4.53% for Q1, FY27 against 4.65% for Q1, FY26 and 4.67% for Q4, FY26). The bank of reported cost of at 4.46% during the quarter marginally lower from 5.01% in the year ago quarter and 4.45% in Q4, FY26.
“Net Advances increased 15% YoY to ₹512,249 crore as of June 30, 2026 from ₹444,823 crore as of June 30, 2025. Customer Assets which comprise Advances (incl. IBPC & BRDS) and Credit Substitutes grew to ₹ 570,901 crore as of June 30, 2026, up 16% YoY from ₹ 492,972 crore as of June 30, 2025,” Kotak Mahindra Bank said in a release.
“Total period-end Deposits grew to ₹572,820 crore for Q1, FY27, up 12% YoY from ₹ 512,838 crore for Q1,FY26. Average total deposits grew to ₹558,891 crore for Q1, FY27, up 14% YoY from ₹ 491,998 crore for Q1FY26,” it added.
“Average Current Deposits grew to ₹78,107 crore for Q1, FY27, up 15% YoY from ₹67,808 crore for Q1, FY26. Average Fixed rate Savings Deposits grew to ₹125,061 crore for Q1, FY27, up 16% YoY from ₹1,07,450 crore for Q1,FY26,” it added.
“Average Term Deposits grew to ₹ 341,992 crore for Q1FY27, up 14% YoY from ₹ 300,003 crore for Q1FY26. CASA ratio as of June 30, 2026 stood at 40.3% (40.9% as at 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 YoY from ₹1,208 crore in Q1, FY26 (₹ 516 crore in Q4,FY26). “Credit cost (annualised) for Q1, FY27 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% YoY from ₹1,812 crore in Q1,FY26. As at June 30, 2026, GNPA was 1.18% & NNPA was 0.27% (GNPA was 1.48% & NNPA was 0.34% as of June 30, 2025),” it added.
Operating expenses for Q1,FY27 stood at ₹ 5,135 crore, up 8% YoY from ₹4,775 crore in Q1, FY26. Operating profit for Q1, FY27 increased to ₹6,131 crore, up 10% YoY from ₹ 5,564 crore in Q1FY26 (up 5% QoQ from ₹ 5,855 crore in Q4FY26).