Mumbai: Kotak Mahindra Bank Ltd on 9 May posted a consolidated net profit of Rs240 crore for the fourth quarter ended 31 March, up 41% over the same period last year.
The bank had a net profit of Rs170 crore in the fourth quarter of financial year ended March 31, 2007, Kotak Mahindra said in a filing to the Bombay Stock Exchange.
The consolidated total income rose to Rs1,863 crore for the fourth quarter from Rs1,423 crore in the year-ago period.
The board has declared a dividend of Rs0.75 per share of face value of Rs10.
For the financial year ended March 31, the bank announced a consolidated net profit of Rs991 crore, a growth of 84% over the year-ago period.
The bank had a net profit of Rs538 crore in the fiscal ended 31 March, 2007.
The total income rose to Rs7,549 crore for the fiscal under review, from Rs4,294 crore in the year-ago period.
The bank announced a standalone net profit of Rs294 crore for the financial year ended 31 March, a growth 108% over previous year’s Rs141 crore.
For the fourth quarter, the bank’s profit after tax grew 86% at Rs69 crore.
The bank, having 178 branches across 109 locations, aims to open 100 new branches in FY 2009, the filing added.
The board has approved the appointment of Asim Ghosh as a director.
Shares of the bank were trading at Rs749 in the afternoon, down 4.27% at the BSE.