Kotak Mahindra Q4 net surges

Private sector lender Kotak Mahindra Bank reported a growth of 98.7 per cent in consolidated net profit to Rs 418.5 crore for the fourth quarter ended March 31, 2010, compared to last year.

Private sector lender Kotak Mahindra Bank reported a growth of 98.7 per cent in consolidated net profit to Rs 418.5 crore for the fourth quarter ended March 31, 2010, compared to last year.

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Total income increased to Rs 2,945 crore for quarter ending March current from Rs 2,232 crore in the same period last year. The board has proposed a dividend of Rs 0.85 per share.

The board has also decided on a stock split of its shares that have a face value of Rs 10 each. The split into two shares of Rs 5 each is subject to approval of shareholders.