Kotak Mahindra Bank Q3FY26 Consolidated PAT Rises 5% YoY to ₹4,924 Crore
Kotak Mahindra Bank reported Q3FY26 consolidated PAT of ₹4,924 crore, up 5% YoY. Standalone PAT was ₹3,446 crore, up 4% YoY. Consolidated customer assets grew 15% YoY to ₹598,780 crore. Standalone net advances increased 16% YoY to ₹480,673 crore. Deposits grew 15% YoY to ₹542,638 crore.
The results show steady growth across key financial metrics, which is positive for the bank's performance and investor confidence, but does not indicate extraordinary or transformative changes.
The bank reported year-on-year growth in both consolidated and standalone PAT, along with increases in customer assets, advances, and deposits, indicating positive financial performance.
Kotak Mahindra Bank Limited announced its unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results at a meeting held on January 24, 2026.
Consolidated Profit After Tax (PAT) for the third quarter of fiscal year 2026 (Q3FY26) stood at ₹4,924 crore, marking a 5% year-on-year increase from ₹4,701 crore in Q3FY25 and a 10% sequential increase from ₹4,468 crore in Q2FY26. This consolidated PAT includes an estimated incremental cost of ₹98 crore (post-tax) related to the new Labour Code.
On a standalone basis, the Bank's PAT for Q3FY26 was ₹3,446 crore, a 4% increase from ₹3,305 crore in Q3FY25 and a 6% increase from ₹3,253 crore in Q2FY26. The standalone PAT also reflects an estimated incremental cost of ₹96 crore due to the new Labour Code.
Consolidated customer assets, comprising advances and credit substitutes, grew by 15% year-on-year to ₹598,780 crore as of December 31, 2025. Total customer assets under management reached ₹787,950 crore, also up 15% year-on-year. Consolidated net worth was ₹175,251 crore, with a book value per share of ₹176.
Standalone net advances increased by 16% year-on-year to ₹480,673 crore. Total period-end deposits grew by 15% year-on-year to ₹542,638 crore. The CASA ratio stood at 41.3% as of December 31, 2025. Net Interest Income (NII) for Q3FY26 increased by 5% year-on-year to ₹7,565 crore, and Net Interest Margin (NIM) was 4.54%.
Operating expenses for Q3FY26 were ₹5,023 crore, an 8% year-on-year increase. Excluding the incremental cost from the new Labour Code, operating expenses were ₹4,927 crore, up 6% year-on-year. Cost to income ratio was 48.3% (47.4% excluding the Labour Code impact).
Gross Non-Performing Assets (GNPA) stood at 1.30% and Net Non-Performing Assets (NNPA) at 0.31% as of December 31, 2025. The provision coverage ratio was 76%. Consolidated Capital Adequacy Ratio (CAR) was 23.3% and CET I ratio was 22.4% as of December 31, 2025.
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