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Kotak Mahindra Bank Q1 net up 3% at Rs150 crore

Kotak Mahindra Bank Q1 net up 3% at Rs150 crore

PTI

Mumbai: Indian private sector lender Kotak Mahindra Bank on 28 July announced a consolidated net profit of Rs149.84 crore for the first quarter of the current fiscal, a marginal 2.67% growth over the corresponding period a year ago.

The company had net profit of Rs145.93 crore in the first quarter of 2007-08, Kotak Mahindra Bank said in a filing to Bombay Stock Exchange.

The company’s total income rose to Rs1,487.24 crore in the quarter ended 30 June, from Rs1,392.38 crore in the year-ago period.

Kotak Mahindra Bank has posted standalone net profit of Rs54.53 crore for the first quarter of this fiscal, up 14.39% over the corresponding quarter a year ago.

Total income rose 33.83% to Rs795.59 crore in the June quarter this year, from last year’s Rs594.45 crore.

Deposits of the bank grew by 43% to Rs16,310 crore as on 30 June, 2008, from Rs11,420 crore.

Shares of the company were trading at Rs551.50, down 1.46% on BSE in afternoon trade.

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