INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Kotak Mahindra Bank on Monday reported a 15.16 per cent yearly rise in standalone net profit at Rs 1,124 crore for the March
quarter, which fell short of Rs 1,230 crore profit projected by analysts in an ET Now poll
The lender had reported Rs 976 crore profit in the year-ago quarter.
Standalone net interest income (NII) for the quarter rose 19.4 per
cent YoY to Rs 2,580 crore, compared with Rs 2,161 crore in the year-ago quarter.
Provisions for the quarter rose to Rs 307 crore compared
with Rs 267 crore in the year-ago quarter.
Gross non-performing assets (NPAs) for the quarter eased to 2.22 per cent from 2.31 per cent in
the December quarter.
On net basis, NPAs fell to 0.98 per cent in the March quarter from 1.09 per cent in the December quarter and 1.26 per
advances were up 25 per cent at Rs 169,718 crore for Q4Fy18 against Rs 1,36,082 crore as of Q4 of last year
Average savings deposits soared 58 per cent to Rs 61,223 crore for Q4FY18 compared with Rs 38,628 crore for Q4FY17.
The board of directors
of the bank has recommended a dividend of Rs 0.70 per equity share having face value of Rs 5 for the full year.
