Kotak Mahindra Bank Q2 profit rises 22% on higher interest income

Kotak Mahindra Bank Ltd on Wednesday reported a 22.26% rise in its September quarter net profit, beating analyst estimates, due to higher net interest income and other income.

The private lender reported standalone net profit of Rs994.31 crore in the quarter against Rs813.29 crore a year ago.

According to estimates of nine Bloomberg analysts, the bank was expected to post a net profit of Rs978.50 crore.

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Yes Bank Q2 profit jumps 25% despite sharp spike in provisions

Private sector lender Yes Bank has reported a profit growth of 25 percent year-on-year at Rs 1,002.7 crore despite sharp spike in provisions, but asset quality deteriorated on sequential basis.

Profit in quarter ended September 2017 stood at Rs 801.54 crore.

Net interest income, the difference between interest earned and interest expended, shot up 33.5 percent to Rs 1,885.1 crore compared with Rs 1,412.16 crore in same quarter last fiscal.

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Vijaya Bank Q2 result, profit rises 20%

Vijaya Bank on Thursday reported 20% increase in net profit at Rs185.46 crore for the quarter ended 30 September, helped by lower expenses. The public sector bank had registered a net profit of Rs154.55 crore in the corresponding quarter of 2016-17 fiscal.

Total income fell marginally to Rs3,501.31 crore for the said quarter from Rs3,516.57 crore a year ago, the bank said in a regulatory filing.

Total expenditure went down 6.05% to Rs2,767.35 crore for the said quarter from Rs2,945.7 crore in the year- ago period.

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Govt bank stocks on fire after recapitalisation plan

An index of state-owned banks rallied an unprecedented 30 per cent — the biggest single-day spurt ever — and the benchmark indices climbed to record highs on Wednesday, reacting to the Cabinet nod a day earlier to Rs 2.11-lakh-crore bank recapitalisation plan and Rs 6.92-lakh-crore highway construction project.

The government announcements to spur the economy is being seen by many as a much-needed stimulus package, which could shore up the sluggish credit growth at public sector undertaking (PSU) banks and help kick-start the economy. 

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RBL Bank Q2 net profit up 68%

Private sector lender RBL Bank has posted a 68 per cent rise in net profit at Rs 150 crore in secondquarter ended September 2017 (Q2 FY18) on improvement in the interest margins and other income.

It had posted net profit of Rs 90 crore in July-September 2016 (Q2 FY17).

Its net interest income rose 39 per cent to Rs 420 crore in Q2 FY18 from Rs 302 crore a year ago period. The net interest margin (NIM) improved by 33 basis points to 3.74 per cent in Q2 FY18 from 3.41 per cent in Q2 FY16.

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IDFC Bank Q2 net profit falls 40%

IDFC Bank Ltd's second-quarter net profit plunged 39.74 per cent to Rs 233.66 crore on account of lower income and higher expenses.

The company's net profit in the same quarter of the previous fiscal stood at Rs 387.76 crore.

Total income came down by 5.13 percent to Rs 2,365.06 crore for the reported quarter as against Rs 2,493.04 crore in the year-ago period, IDFC Bank said in a BSE filing.

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