Kotak Mahindra Bank on Wednesday reported a 65 per cent jump in its standalone profit after tax (PAT) at Rs 2,767 crore in the quarter ended March, helped by higher growth in net interest income and healthy asset quality. The lender had reported a standalone PAT of Rs 1,682 crore in the year-ago period.
For the full financial year 2021-22, PAT increased by 23 per cent to Rs 8,573 crore from Rs 6,965 crore in FY21.
“Our slippages have been under control. On an annualised basis our slippage ratio is 1.08 per cent. Our slippage ratio actually now demonstrates that the quality of our credit book is extremely robust as we exit Covid,” managing director and CEO Uday Kotak told reporters.
Tata Consumer Products Ltd (TCPL) on Wednesday reported an over three-fold jump in consolidated net profit at Rs 239.05 crore for the fourth quarter ended March. The company had posted a net profit of Rs 74.35 crore a year ago, said TCPL, earlier known as Tata Global Beverages Ltd, in a BSE filing.
Revenue from operations was up 4.54 per cent at Rs 3,175.41 crore against Rs 3,037.22 crore in the same period a year ago.