Mumbai, Oct 19: Kotak Mahindra Finance Limited (KMFL) has posted a net-profit at Rs 26.34 crore for the first six month of the current fiscal as against Rs 7.15 crore for the corresponding period of last year. KMFL's board of directors announced its half-yearly unaudited results after a board meeting held on Wednesday.KMFL has reported profit before tax of Rs 16.79 during the second quarter of current fiscal (Rs 8.04 crore) while profit after tax for second quarter stood at Rs 11.29 crore (Rs 3.04 crore). The company's profit before tax rose to Rs 36.34 crore (Rs 16.15 crore). KMFL's total assets stood at Rs 1,080 crore. Income from operations for the half year has grown to Rs 86.11 crore from Rs 79.42 crore. Net non-performing assets of the company stood at Rs 17.80 crore forming 1.65 per cent of assets and 3.54 per cent of net worth.
The company has raised about Rs 175 crore through private placement of its debenture and securitisation of its commercial vehicle portfolio during this year. KMFL's fixed deposits programme is being received well and has seen an improvement in its renewal ratios.
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