The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter and nine months since December 31, 2023, at the Board meeting held in Mumbai, today.
The bank’s standalone PAT for 9MFY24 increased to ₹ 9,648 crore, a 30% YoY increase from ₹ 7,444 crore in 9MFY23. The Q3FY24 PAT stood at ₹3,005 crore, an 8% YoY increase from ₹ 2,792 crore in Q3FY23.
The bank’s consolidated PAT for 9MFY24 increased to ₹ 12,876 crore, a 24% YoY increase from ₹ 10,359 crore in 9MFY23, and for Q3FY24 was ₹ 4,265 crore, a 7% YoY increase from ₹ 3,995 crore in Q3FY23. The bank’s Q3FY24 results include a ₹143 crore provision (post-tax) on applicable Alternate Investment Fund (AIF) investments under RBI’s circular dated December 19, 2023. The bank’s financial statements are prepared as per Indian Accounting Standards following the Companies (Indian Accounting Standards) Rules, 2015.
