Kotak Mahindra Bank Q2 PAT dip 33% at Rs161 cr

Kotak Mahindra Bank Q2 PAT dip 33% at Rs161 cr

Mumbai: Kotak Mahindra Bank said that its consolidated profit after tax (PAT) declined by 33.33% at Rs160.97 crore for the second quarter ended 30September over the corresponding period a year ago.

The bank had a PAT of Rs241.45 crore in the second quarter of FY’08, Kotak Mahindra Bank said in a filing to the Bombay Stock Exchange (BSE).

Total income rose to Rs1,849.51 crore in the quarter under review, from Rs1,811.78 crore in the same period last fiscal.

On a consolidated basis, the bank reported a net profit of Rs47.86 crore in the September quarter, a 36.50% dip over the corresponding year-ago period. The Kotak Mahindra Bank had a net profit of Rs75.38 crore in the same quarter last year.

The bank’s standalone income rose to Rs806.77 crore in the second quarter, from Rs714.16 crore in the same period previous year.

Shares of the bank were trading at Rs320.50, down 1.73% on the BSE.