Kotak Mahindra Q1 profit flat at Rs 4,472 crore as provisions, credit costs rise

Kotak Mahindra Bank's consolidated net profit remained almost flat at ₹4,472 crore in the June quarter, impacted by increased provisions primarily related to microfinance. The bank experienced a rise in credit costs and a contraction in net interest margins to 4.65%. Asset quality also saw a slight deterioration, with the gross non-performing asset ratio increasing to 1.48%.