By Jiahui HuangKotak Mahindra Bank's net profit rose in the third quarter, as a jump in interest income helped offset a steep rise in provisions. The Indian bank said Saturday that net profit for its fiscal third quarter ended Dec. 31 climbed 6.8% on year to 42.65 billion rupees ($512.9 million). Revenue rose 31% to INR240.83 billion, with interest earned expanding 32% and other income climbing 30%. It said the growth in net interest income beat its estimates, while earnings fell short due to a treasury loss and the AIF investment provision. Write to Jiahui Huang at jiahui.huang@wsj.com(END) Dow Jones NewswiresJanuary 22, 2024 00:50 ET (05:50 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal January 22, 2024 10:34 UTC