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