Kotak Mahindra Bank Q4 profit rises 14% to Rs 2,038 crore; total income rises to Rs 13,823 crore

Kotak Mahindra Bank clocked a profit of Rs 1,789.24 crore in the same quarter of the previous financial year

Press Trust of India April 30, 2019 15:36:14 IST
Kotak Mahindra Bank Q4 profit rises 14% to Rs 2,038 crore; total income rises to Rs 13,823 crore
  • Total income rose to Rs 13,823.33 crore during the latest quarter, up from Rs 10,874.12 crore in the year-ago period

  • Consolidated net profit for 2018-19 financial year increased to Rs 7,204 crore from Rs 6,201 crore in the previous year

  • Gross NPAs of bank were 1.94 percent of gross loans as on 31 March, 2019, slightly down from 1.95 percent at March-end 2018

New Delhi: Kotak Mahindra Bank Tuesday reported a 14 percent rise in consolidated net profit at Rs 2,038.27 crore for March quarter, 2018-19.

The private sector lender clocked a profit of Rs 1,789.24 crore in the same quarter of the previous financial year.

Total income rose to Rs 13,823.33 crore during the latest quarter, up from Rs 10,874.12 crore in the year-ago period, the bank said in a regulatory filing.

Consolidated net profit for 2018-19 financial year increased to Rs 7,204 crore from Rs 6,201 crore in the previous year. Income during the year rose to Rs 45,903.36 crore from Rs 38,723.67 crore.

Kotak Mahindra Bank Q4 profit rises 14 to Rs 2038 crore total income rises to Rs 13823 crore

Representational image. Reuters

Gross non-performing assets (NPAs) or bad loans of the lender were 1.94 percent of the gross loans as at 31 March, 2019, slightly down from 1.95 percent at March-end 2018.

Likewise, net NPAs were 0.70 percent, down from 0.86 percent a year ago.

The bank's board at a meeting held Tuesday recommended a dividend of Rs 0.80 per equity share for 2018-19.

The dividend will be paid after the approval of shareholders at the annual general meeting, the bank said.

Shares of Kotak Mahindra Bank traded 0.31 percent down at Rs 1,373.80 per scrip on BSE.

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