Kotak Mahindra Bank Q2 FY27 Results: Consolidated Net Profit ₹5,634 Crore on Total Income of ₹29,427 Crore
Earnings
Banking and financial services
Blacklitt Research4 min read
Kotak Mahindra Bank reported consolidated total income of ₹29,426.88 crore and net profit of ₹5,634.07 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹19,141.29 crore and net profit ₹4,211.97 crore, it said in a filing on 24 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹29,426.88 crore, up 18.2% YoY and down 2.1% QoQ
Net profit and EPS: ₹5,634.07 crore, up 26.7% YoY and 2.7% QoQ; basic EPS ₹5.68
Other income: ₹9,571.01 crore, up 24.3% YoY and down 18.3% QoQ
Profit before tax: ₹7,530.30 crore, up 26.3% YoY; no exceptional item shown for the quarter
Standalone
The company on its own, without its subsidiaries
Total income: ₹19,141.29 crore, up 17.9% YoY and 7.4% QoQ
Net profit and EPS: ₹4,211.97 crore, up 29.5% YoY and 2.2% QoQ; basic EPS ₹4.23
Other income: ₹3,193.56 crore, up 23.3% YoY and down 4.3% QoQ
Profit before tax: ₹5,578.64 crore, up 29.1% YoY and 2.1% QoQ
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
29,426.88
24,901.39
+18.2%
30,068.60
-2.1%
Other income
9,571.01
7,702.65
+24.3%
11,714.03
-18.3%
5,634.07
4,445.94
+26.7%
5,487.06
+2.7%
Profit before tax
7,530.30
5,962.77
+26.3%
7,508.86
+0.3%
Tax expense
1,896.23
1,516.83
+25.0%
2,021.80
-6.2%
Net profit margin
19.15%
17.85%
+1.29 pp
18.25%
+0.90 pp
EPS, basic (₹)
5.68
4.49
+26.5%
5.51
+3.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income over the year: consolidated net profit rose 26.7% to ₹5,634.07 crore while total income rose 18.2% to ₹29,426.88 crore. Quarter on quarter the pattern reversed in direction, with net profit up 2.7% and total income down 2.1%.
Other income of ₹9,571.01 crore is 32.5% of total income this quarter. It fell 18.3% from ₹11,714.03 crore in the June quarter, and net profit still rose in the same period. The statement gives the figures side by side but does not explain the swing in other income.
The consolidated operating expenses include a change in policyholders' reserves, surrender expenses and claims of ₹2,441.45 crore for the quarter ended 30 Sep 2026, against ₹5,030.80 crore for the quarter ended 30 Jun 2026, according to note 5. Tax expense of ₹1,896.23 crore is 25.2% of profit before tax of ₹7,530.30 crore.
Note 7 says a pre-tax gain of ₹367.79 crore, net of expenses, was recognised on the divestment of 30.99% of the stake in Infina Finance Private Limited, which the note records as an exceptional item in the results for the year ended 31 Mar 2026. The quarter's statement shows no exceptional item, and the filing does not say how much of the gain falls in this quarter.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
19,141.29
16,238.59
+17.9%
17,815.69
+7.4%
Other income
3,193.56
2,589.18
+23.3%
3,338.20
-4.3%
4,211.97
3,253.33
+29.5%
4,122.96
+2.2%
Profit before tax
5,578.64
4,320.85
+29.1%
5,463.22
+2.1%
Tax expense
1,366.67
1,067.52
+28.0%
1,340.26
+2.0%
Net profit margin
22.00%
20.03%
+1.97 pp
23.14%
-1.14 pp
EPS, basic (₹)
4.23
3.27
+29.4%
4.15
+1.9%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 29.5% year on year to ₹4,211.97 crore, faster than total income (up 17.9%) and profit before tax (up 29.1%). Net profit margin was 22.00%, up from 20.03% a year earlier and down from 23.14% in the June quarter.
Standalone other income of ₹3,193.56 crore is 16.7% of total income. Standalone net profit rose 2.2% quarter on quarter, slower than total income, which rose 7.4%. Consolidated net profit of ₹5,634.07 crore is ₹1,422.10 crore higher than the standalone figure.
Asset quality ratios improved against the June quarter: gross NPA was 1.04% of gross advances against 1.18%, and net NPA was 0.24% of net advances against 0.27%. The Basel III capital adequacy ratio was 21.86%, against 22.78% in the June quarter.
The Bank acquired loan assets of ₹9,587.62 crore, including premium, from Kotak Mahindra Investments Limited with effect from 1 Jul 2026, according to note 14. The statement does not give the effect of this acquisition on the quarterly figures.
Inference
The results show the Bank paying out ₹646.58 crore in dividends in the half year ended 30 Sep 2026, and the statements restate per-share figures for the sub-division of each ₹5 share into five ₹1 shares effective 14 Jan 2026. Basic EPS was ₹5.68 consolidated and ₹4.23 standalone. The Bank allotted 1,172,125 equity shares on exercise of options during the quarter.
The filing does not state the dividend declared for FY27 or its record date, and it does not give the effect of the loan acquisition from Kotak Mahindra Investments Limited on quarterly results. The scheme of merger between two subsidiaries needs statutory and regulatory approvals and, the company says, has no impact on consolidated results.
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KOTAKBANKKotak Mahindra Bank Ltd.
