The drop is largely on account of Kotak Mahindra Life Insurance posting a net loss of Rs 243 cr on shareholders’ accounts due to higher death claims following the second Covid wave.
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Kotak Mahindra Bank on Monday recorded a soar of 32 percent in its internet revenue for the primary quarter of 2021-22 because it stood at Rs 1,642 crore from Rs 1,244 crore through the corresponding interval of the final 12 months.
The personal lender’s internet curiosity earnings additionally went up 6 percent to Rs 3,942 crore in the June-end quarter of the present fiscal from Rs 3,724 crore within the corresponding interval of the earlier fiscal.
.@KotakBankLtd reported a 32% year on year rise in net profit to ₹1642 crore at the end of June quarter owing to higher other income. The bank had reported net profit of ₹1244.45 crore in the year ago periodhttps://t.co/wIPTdRvRNx— Mint (@livemint) July 26, 2021
Its working revenue for the primary quarter of 2021-22 was Rs 3,121 crore, up from Rs 2,624 crore.