Kotak Mahindra Bank Q3 net profit marginally up at Rs 591 crore

Written by PTI | Mumbai | Updated: Jan 21 2014, 21:19pm hrs
KotakProfit a year earlier was Rs 577.21 cr, Kotak Mahindra said in a filing to the BSE. Reuters
Private lender Kotak Mahindra Bank Ltd reported a marginal rise of 2.4 per cent in consolidated net profit at Rs 591.25 crore for the third quarter (Q3) ended December 2013.

Profit a year earlier was Rs 577.21 crore, Kotak Mahindra said in a filing to the BSE Sensex. Total income increased to Rs 4,424.5 crore from Rs 4,157.12 crore.

On a standalone basis, the bank's net profit declined to Rs 339.98 crore from Rs 361.68 crore in the third quarter a year earlier.

Kotak Mahindra Bank's total standalone income increased to Rs 2,492.01 crore for the quarter from Rs 2,399.44 crore.

Net interest income for the third quarter was up 11 per cent to Rs 913 crore from Rs 823 crore a year earlier.

Kotak Mahindra shares fell 3.04 per cent to Rs 706 in afternoon trade on the BSE.