Kotak Mahindra Bank announced its financial results for the fourth quarter ended March 2016 on Wednesday. The bank reported 15.63 per cent rise in its consolidated net profit at Rs 1,055.23 crore for the quarter under review against Rs 912.60 crore in the same quarter last year.
Consolidated total income of the bank grew 28.16 per cent year-on-year to Rs 7,910.41 crore. It had registered a total income of Rs 6172.26 crore in the same quarter last year.
On a standalone basis, bottomline of Kotak Mahindra Bank climbed 32 per cent to Rs 695.78 crore for the quarter ended March 2016 against Rs 527.14 crore in the same quarter a year ago.
Net interest income of the bank grew 5.2 per cent quarter-on-quarter (qoq) and 65.40 per cent year-on-year to Rs 1857.24 crore aided by 2.9 per cent qoq loan book growth while sequential margins improved to 4.35 per cent.
Asset quality deteriorated tad qoq with gross non-performing assets (NPA) at 2.4 per cent and net NPA at 1.1 per cent during the quarter.
Barring broking, most of the businesses reported decent growth with investments and life insurance businesses stood strong during the quarter gone by.
The bank has also recommended a dividend of Rs 0.50 paise per share.