 "Kotak Mahindra Bank Q3 net profit at Rs 591 crore, up 2%")
Mumbai: Private lender Kotak Mahindra Bank today reported a marginal rise of 2.4 percent in consolidated net profit at Rs 591.25 crore for the third quarter ended December 2013.
Profit a year earlier was Rs 577.21 crore, Kotak Mahindra said in a filing to the BSE. Total income increased to Rs 4,424.5 crore from Rs 4,157.12 crore.
[caption id=“attachment_503108” align=“alignleft” width=“380”]
Agencies[/caption]
On a standalone basis, the bank’s net profit declined to Rs 339.98 crore from Rs 361.68 crore in the third quarter a year earlier.
Total standalone income increased to Rs 2,492.01 crore for the quarter from Rs 2,399.44 crore.
Net interest income for the third quarter was up 11 percent to Rs 913 crore from Rs 823 crore a year earlier.
Kotak Mahindra shares fell 3.04 percent to Rs 706 in afternoon trade on the BSE.
PTI