Kotak Mahindra Bank Q3 profit up 20 per cent

By: |
January 19, 2018 1:19 PM

Indian private sector lender Kotak Mahindra Bank Ltd posted a nearly 20 percent increase in third-quarter profit on Friday, helped by higher interest and fee income and as bad loans dropped.

Kotak Mahindra Bank, Kotak Mahindra Bank profit, kotak profit, Net interest income, gross non-performing assets, Kotak NPA, Kotak mahindra NPA, Kotak mahindra profitsIndian private sector lender Kotak Mahindra Bank Ltd posted a nearly 20 percent increase in third-quarter profit on Friday, helped by higher interest and fee income and as bad loans dropped. (Reuters)

Indian private sector lender Kotak Mahindra Bank Ltd posted a nearly 20 percent increase in third-quarter profit on Friday, helped by higher interest and fee income and as bad loans dropped. Net profit rose to 10.53 billion rupees ($165.11 million) in the quarter ended Dec. 31, from 8.80 billion rupees a year earlier, the country’s fourth-largest private bank by assets said in a statement. Analysts on average had expected a net profit of 10.69 billion rupees, according to Thomson Reuters data. Gross bad loans as a percentage of total loans stood at 2.31 percent at end-December, compared with 2.47 percent in the previous quarter and 2.42 percent in the same period a year ago. Net interest income rose about 17 percent to 23.94 billion rupees.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1RBI imposes curbs on Nagar Urban Co-operative Bank, Ahmednagar
2Number of ATMs in country at over 2.13 lakh, says Finance Ministry
3SBI invites bids to sell NPA account KSK Mahanadi Power with dues over Rs 4,100 crore