Mumbai: Private-sector lender Kotak Mahindra Bank on Tuesday posted a net profit of Rs37.25 crore for the fourth quarter (Q4) ended 31 March, up 7.26%, compared with Rs34.73 crore in the same period a year ago.
The bank’s total income grew 77.6% to Rs521.06 crore for the January-March quarter against Rs293.44 crore in the three-month period in 2006, Kotak Mahindra Bank informed the Bombay Stock Exchange.
The lender added that its board of directors has recommended a 7% dividend. On an annual basis, the bank recorded a 19.6% increase in profit after tax to Rs141.36 crore compared with Rs118.23 crore in the 12-month period ended 31 March 2006.
Its total income also rose 74.8% to Rs1,637.75 crore from Rs936.95 crore for the year ended 31 March 2006. Overall, the group registered a profit after tax of Rs170.32 crore for the quarter ended 31 March against Rs518.10 crore in the three months ended 31 March 2006. Total income of the group also grew to Rs1,426.44 crore compared with Rs1,251.72 crore in the same quarter in 2006.