Kotak Mahindra Bank Q4 profit rises 14 % to 2,038 crore

New Delhi | ByPress Trust of India
Apr 30, 2019 03:35 PM IST

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

Kotak Mahindra Bank Tuesday reported 14 per cent rise in consolidated net profit at 2,038.27 crore for March quarter, 2018-19.

The bank’s board at a meeting held Tuesday recommended a dividend of <span class='webrupee'>₹</span>0.80 per equity share for 2018-19.(Mint)
The bank’s board at a meeting held Tuesday recommended a dividend of 0.80 per equity share for 2018-19.(Mint)

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

Total income rose to 13,823.33 crore during the latest quarter, up from 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 7,204 crore from 6,201 crore in the previous year. Income during the year rose to 45,903.36 crore from 38,723.67 crore.

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

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

The bank’s board at a meeting held Tuesday recommended a dividend of 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 per cent down at 1,373.80 per scrip on BSE.

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