Kotak Mahindra Bank shares gain on Q4 results

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New Delhi | May 11, 2016 5:04 PM

Kotak Mahindra Bank shares gained as much as 2 per cent intraday on Wednesday after the bank reported 32 per cent rise in its standalone net profit figures at Rs 695.78 crore for the fourth quarter ended March 2016

Sensex, nifty, bse, nse kotak mahindra bankKotak Mahindra Bank shares gained as much as 2 per cent intraday on Wednesday after the bank reported 32 per cent rise in its standalone net profit figures at Rs 695.78 crore for the fourth quarter ended March 2016

Kotak Mahindra Bank shares gained as much as 2 per cent intraday on Wednesday after the bank reported 32 per cent rise in its standalone net profit figures at Rs 695.78 crore for the fourth 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 (yoy) 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.

On a consolidates basis, the bank reported 15.63 per cent rise in its bottomline at Rs 1,055.23 crore for the quarter under review against Rs 912.60 crore in the same quarter last year.

The share price of Kotak Mahindra Bank settled 1.34 per cent up at Rs 731.15.

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