Kotak Mahindra Bank Q3 Net Up 25 Percent at 577 Cr

Mumbai: Kotak Mahindra Bank said its net profit rose by nearly 25 percent to 577.21 crore for the third quarter ended December 2012.

Its profit in the same quarter of the previous fiscal stood at 462.63 crore.

Total income of the bank during October-December quarter of 2012-13 stood at 4,157.12 crore from 3,123.31 crore in the previous fiscal, it said in a BSE filing.

Income from other sources of the private bank increased to Rs .500.14 crore from 490.18 crore over the same period of the previous fiscal, it added.

The bank's net interest margin, a key gauge of profitability, however, declined slightly to 4.6 percent in the third quarter from 4.7 percent a year ago, it said.

Also, the non-performing assets or bad loans of the bank increased to 0.53 percent from 0.41 percent a year earlier. Net NPA as of December 31, 2012 stood at 364.80 crore from 246.53 crore in 2011-12, it said.

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